Permalink Submitted by Alan Spross on Tue, 2010-01-26 05:15
Are you referring to the federal bankruptcy Act? If so, I think the legal consensus is that a Roth IRA is protected in the same manner and limits as a traditional IRA, and the Roth could be either a contributary account or a conversion of a rollover that would not have a dollar limit.
There is some question about the status of Roth IRAs vrs other IRA types in the various state IRA protection statutes however. With respect to state protection, each state’s specific statute would need to be checked.
Permalink Submitted by Alan Spross on Tue, 2010-01-26 05:15
Are you referring to the federal bankruptcy Act? If so, I think the legal consensus is that a Roth IRA is protected in the same manner and limits as a traditional IRA, and the Roth could be either a contributary account or a conversion of a rollover that would not have a dollar limit.
There is some question about the status of Roth IRAs vrs other IRA types in the various state IRA protection statutes however. With respect to state protection, each state’s specific statute would need to be checked.
If there was a specific case, I missed it.