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Ellen
Ellen, Attorney
Category: Bankruptcy Law
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Experience:  Bankruptcy Lawyer. Experienced.
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Are IRAs protected from civil suits This is over and above

Customer Question

Are IRAs protected from civil suits?This is over and above what the insurance company is willing to pay. If not can I open a trust to protect my money?
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 8 years ago.
Hello,

Pennsylvania exempts IRAs from creditor claims as well as pensions and qualified retirement plans. However, Pennsylvania does not exempt SEP-IRA contributions in excess of $15,000 in any one year.

I hope that the information which I provided was helpful to you.


Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.


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FLAandNYLAWYER


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