Is it still prudent to remain in tradit.IRA as opposed to Roth IRA? As a business owner(or previous), will we always remain safer with regards to the creditor becoming a legal IRA preditor? The answer depends on the law in your state. The exemption laws in some states have not been amended to add the Roth IRA to the list of exempted property. In those states, Roth IRAs may or may not be protected.As a general proposition, qualified retirement plans (401(k)'s etc.) are likely safer from creditors than IRAs because they are protected under federal law (ERISA) while protection of IRAs is left to the states.The bottom line is that you need to speak with an attorney who knows the law in your state. There are some Web articles with this kind of info, but I've found them to contain out of date and inaccurate information.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra