IRA creditor protection
Is there any protection for IRA’s from lawsuits, from an automobile accident for example, or is the creditor protection of IRA’s limited to bankrupty situations?
Is there any protection for IRA’s from lawsuits, from an automobile accident for example, or is the creditor protection of IRA’s limited to bankrupty situations?
Permalink Submitted by Alan Spross on Fri, 2008-05-09 20:48
The federal law only provides protection of IRAs in a federal court bankruptcy filing. However, state laws vary with respect to the extent of other protection of IRAs for their residents. Check your state from the following link:
http://www.assetprotectionbook.com/state_resources.htm