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How should I proceed to better protect my IRA and Keogh plans?

To begin, add spendthrift provisions to your plan. Not every plan has this. Secondly, don’t be the plan’s sole trustee. Add another trustee. It can be your spouse. Thirdly, don’t borrow money from your retirement account. If you owe money to your plan, repay it. Finally, don’t control your retirement account. Maintain an ‘arms-length’ relationship with your plan. Each of these steps will help creditor proof a plan, but even when you take each of these steps, your plan may not be conclusively protected.

Categories: Asset Protection
The Presser Law Firm, P.A. - Asset Protection Attorney
Located at 6199 N. Federal Highway Boca Raton, FL 33487. View Map
Phone: (561) 953-1050
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