Legal Question in Bankruptcy in Connecticut

Ira protection

Are assets held in an IRA exempt from creditors in the state of Ct. for bankruptcy


Asked on 1/28/03, 8:17 am

1 Answer from Attorneys
Joel M. Grafstein Grafstein & Arcaro, LLC

Re: Ira protection

Yes, funds within an IRA are exempt from the claims of creditors, as long as the IRA is a qualified retirement plan. No creditor can touch the assets, except for IRS and for qualified domestic relations orders (divorce proceedings).

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Answered on 1/29/03, 9:40 pm


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