can creditors go after your Roth IRA or Roth 401k if you get bankrupt?

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can creditors go after your Roth IRA or Roth 401k if you get bankrupt?

2006-09-12 05:54:30 · 3 answers · asked by Drew 1 in Business & Finance ➔ Investing

3 answers

Generally, whether an asset is subject to creditors in the event of bankruptcy will depend on state bankruptcy law. Most states, have specifically excluded IRAs, including Roth IRAs, from being subject to creditors in the event of bankruptcy. You should check to determine whether your state has exempted Roth IRAs from the claims of creditors.

2006-09-12 07:11:46 · answer #1 · answered by John 3 · 1⤊ 0⤋

Not in most states. There was a news article just last week about OJ Simpson. He was allowed to keep his principle residence and his NFL pension -- because they are protected by Florida law.

2006-09-12 14:27:50 · answer #2 · answered by Ranto 7 · 0⤊ 0⤋

No, they can't.

2006-09-12 13:06:12 · answer #3 · answered by Steve R 6 · 0⤊ 0⤋