In New York, judgments are valid for 20 years. In addition, judgment creditors may extend the period beyond twenty years if they make the proper application in Court before the 20 years lapse. Other states may vary from 7 to 25 years. Judgments collect interest. In New York it's 9% per year.
Member SIPC.Schwab Institutional is a division of Charles Schwab & Co., Inc. FTA 02586 (1106-8352) REG34983SIPDF-03 (11/06) If your state of residency is:Your withholding options are:DE, IA, KS, MA, ME, NEIf you elect to have federal income tax withheld, Schwab is required to withhold state income tax.
Later, when you retire, withdrawals you make in accordance with the rules of your account are not taxable. Because Roth IRA contributions, instead of withdrawals, are taxed, the government does not impose a Required Minimum Distribution rule on these accounts. This makes Roth IRAs a great option for people who want to use their retirement account to pass on wealth to their children or grandchildren, instead of using the account to fund their own retirement.