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December 2009 – Asset Protection for Retirement Plans
February 14th, 2013For many of us, retirement plans are a very significant asset. It is estimated that over $15 trillion are held in ERISA and IRA plans. ERISA-qualified retirement plans (like 401k plans) are fully protected from creditors under federal law. Some non-qualified plans, including IRAs, are protected at least partially under state law (more on that below). IRAs that are inherited (i.e., the plan participant has died) are not protected, which is a big missing piece in the asset protection planning of most people.