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Ellen
Ellen, Consultant
Category: General
Satisfied Customers: 36714
Experience:  attorney and legal researcher
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I have an IRA Annuity and want to try to make sure it is protected

Resolved Question:

I have an IRA Annuity and want to try to make sure it is protected if for instance I would ever get sued. All other assets are Tenants by the Entireties but the IRA only has my name, with my wife as beneficiary. Is that protected in its present form or should I change the ownership? What do I need to do...if anything. Thanks
Submitted: 5 years ago.
Category: General
Expert:  Ellen replied 5 years ago.
Welcome!

I am an attorney with 25+ years of legal experience and am working diligently on your answer while I await your response.

Please tell me:
What state do you reside in?

Thanks!
Customer: replied 5 years ago.
Maryland
Expert:  Ellen replied 5 years ago.
Hello,

Thank you. I will strive to provide you with legal information to assist you. If my answer is not clear to you, I encourage you to ask me for clarification by using the reply button.

IRAs are exempt from the claims of creditors under Maryland Statute 11-504. You may read the statute at this link:
http://law.justia.com/codes/maryland/2010/courts-and-judicial-proceedings/title-11/subtitle-5/11-504/


I hope that it helps to know this information

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