Using Retirement Accounts for Asset Protection

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The tax benefits of retirement plans such as 401(k)s and Roth IRAs are well-known; but what many people do not know, is that such plans also provide an added benefit of asset protection. The assets contained within these plans are often exempt from execution on civil court judgments and debtors are also permitted to retain them after Federal bankruptcy proceedings, even in a Chapter 7 liquidation.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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