Permalink Submitted by Alan - IRA critic on Sat, 2016-12-17 00:21
Speaking solely of IRA assets, here are some and there are probably more. However, two of the largest exposures are not protected anywhere, those being marital settlements and IRS liens. Also, if a state has not opted out of the federal bankrupcty act protections note that there is considerable IRA protection granted subject to BK filing.
Keep your qualified ERISA plans in place instead of rolling them over to an IRA.
Maintain a high limit personal umbrella policy and high limits of first party insurance such as health insurance, homeowners insurance, etc.
Move to another state if your IRA limits are high enough to warrant
Avoid risky financial investments and manage spending
Don’t do large conversions if you are in one of the handful of states that do not protect Roth IRAs as they do non Roth IRAs.
Permalink Submitted by Alan - IRA critic on Fri, 2016-12-16 19:48
This is a pretty good site. I don’t know how quickly they update the information, but state creditor protection laws do not change very often. http://www.assetprotectionbook.com/forum/viewtopic.php?f=142&t=1566
Permalink Submitted by Rose Robins on Fri, 2016-12-16 21:17
thanks for the information.
Permalink Submitted by Rose Robins on Fri, 2016-12-16 21:25
If the states do not protect a Roth IRA what options does a person have to protect their assets?
Permalink Submitted by Alan - IRA critic on Sat, 2016-12-17 00:21
Speaking solely of IRA assets, here are some and there are probably more. However, two of the largest exposures are not protected anywhere, those being marital settlements and IRS liens. Also, if a state has not opted out of the federal bankrupcty act protections note that there is considerable IRA protection granted subject to BK filing.