Are IRA and ROTH accounts protected from civil judgements and bankruptcy?
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Are IRA and ROTH accounts protected from civil judgements and bankruptcy?
If an individual defendant loses a civil case, can the plaintiff lien the defendant’s IRA and ROTH accounts? Can Bankruptcy protect such assets?
Asked on August 26, 2012 under Bankruptcy Law, California
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Under the laws of all states in this coutnry, IRA and Roth accounts are exempt from levy with respect to a judgment lien by an individual creditor. A bankruptcy filing by an individual debtor can very well assist him or her in getting certain debts and judgments discharged. I suggest that you may want to consult further with a bankruptcy attorney about the matter you have written about and what you may wish to do about your debt situation.
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