Tampa Estate Planning Attorney > Videos > Retirement accounts are a major asset. How can they be protected from creditors?
Retirement accounts are a major asset. How can they be protected from creditors?
Video Transcription
Retirement accounts have statutory protection, both under Florida law and the law of most states, and federal law as well. A lot of the protection is already built in. However sometimes inherited retirement accounts, in particular inherited IRAs, need extra protection in the bankruptcy context.
Florida already has statues that protect those account in the bankruptcy context, but other states don’t. So in addition to just the statutory protections, you want to consider making the trust the beneficiary of certain IRAs as well.