Are my IRAs secure against possible liens?

By Denise Appleby AAA
A:



Your IRA is protected from bankruptcy up to $1 million. However, in all other cases, state law determines whether any protection exists and the level of protection.



It is best to consult with a local attorney to determine the types of protection offered in your state.



To learn more, see Bankruptcy Protection For Your Accounts and Build A Wall Around Your Assets.



Question answered by Denise Appleby, CISP, CRC, CRPS, CRSP, APA



RELATED FAQS

  1. Is it a good idea to add a reverse mortgage to your retirement strategy?

    A reverse mortgage can be a great way to increase retirement income. Does it work for everyone? What happens after a homeowner ...
  2. What are the keys to setting up a trust fund?

    Setting up a trust to secure your assets for a beneficiary allows you to set the terms under which the beneficiaries are ...
  3. What does amortization mean in the context of a pension plan?

    Discover when and why accountants use amortization techniques in the context of pension plans, and why those changes help ...
  4. Can I purchase mutual funds for my IRA?

    Learn how to invest your IRA assets in mutual funds. Discover a few of the different types of mutual funds available for ...
RELATED TERMS
  1. Senior Move Manager

    Senior move managers (SMMs) help seniors downsize and relocate ...
  2. Elder Care

    Elder care, sometimes called elderly care, refers to services ...
  3. Gold IRA

    Definition of Gold IRA
  4. Eligible Transfer

    An IRS-allowed movement of assets into or out of an individual ...
  5. Death Master File (DMF)

    Also known as Social Security Death Index. A list of people whose ...
  6. Leveraged Benefits

    The use – by a business owner or professional practitioner – ...

You May Also Like

Related Articles
  1. Professionals

    Retirement Bliss? Not So fast: When ...

  2. Professionals

    Multiple Accounts? Here's How to Calculate ...

  3. Professionals

    Financial Planning Tips And Resources ...

  4. Professionals

    Where You Clients Should Retire (For ...

  5. Professionals

    Should Your Retiring Clients Pay Off ...

Trading Center