Home About Us FAQ Publications & Press Speaking
Links & Resources Contact Us
Limited Liability Companies
Limited Liability Partnerships
Limited Partnerships
Asset Protection Trusts
Domestic Asset Protection Trusts
Equity Stripping
Financial Planning Exemption
Tenancy By The Entirety
Charging Order Protection
International Entities
International Trusts
Captive Insurance Companies
Business Entities
Contract Formation and Review
General Business Counsel
Business Succession Planning
Current Estate Plan Review
Drafting Wills and Trusts
Incapacity Planning
Probate Administration
Charitable Remainder Trusts
Online Asset Protection Quiz.

Does bankruptcy change my retirement plan's protection?

Recent bankruptcy law changes have expanded the lawsuit protection for IRAs. The new rules protect IRA rollovers from tax-qualified plans, regardless of where the IRA owner resides. The new bankruptcy law further exempts from creditor claims IRAs up to one million dollars, as well as IRAs and IRA earnings for larger amounts as may be determined by the bankruptcy court as necessary for the debtor's support. Simple retirement accounts, a simplified employee pension (SEPs) and 'rollovers' to the IRA from a qualified plan or another IRA are disregarded under this million dollar limit. Stated differently, the part of your IRA attributable to assets 'rolled over' from a tax-qualified plan and earnings on those rolled over assets – typically all or a large portion of the IRA assets – are protected, even if it exceeds one million dollars.

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