Permalink Submitted by Alan Spross on Mon, 2009-02-09 19:06
Following is a link on asset protection. If you scroll down to MA, you will see that MA protects rollover (conduit IRAs), but has a limited amount of protection for contributary IRAs or those commingled with employer plan rollovers.
However, the federal bankruptcy protection also applies here, although the client would have to actually file BK to secure this protection. The federal BK dollar limits are also different for rollover accounts vrs contributary accounts. The contributary or commingled accounts are protected up to 1 million in total, with no limit on rollover IRAs.
Note that neither form of protection above applies to either IRS liens OR marital settlements.
Permalink Submitted by Alan Spross on Mon, 2009-02-09 19:06
Following is a link on asset protection. If you scroll down to MA, you will see that MA protects rollover (conduit IRAs), but has a limited amount of protection for contributary IRAs or those commingled with employer plan rollovers.
However, the federal bankruptcy protection also applies here, although the client would have to actually file BK to secure this protection. The federal BK dollar limits are also different for rollover accounts vrs contributary accounts. The contributary or commingled accounts are protected up to 1 million in total, with no limit on rollover IRAs.
Note that neither form of protection above applies to either IRS liens OR marital settlements.
http://www.assetprotectionbook.com/state_resources.htm