Salt Lake City, Provo and Ogden Bankruptcy Lawyers

IRAs and Bankruptcy in Utah

IRA plans are treated differently than qualified retirement plans such as pension, 401(k), profit sharing and 401(a) plans in bankruptcy cases. IRAs are actually not granted full exemption under federal bankruptcy law because they are not considered to be qualified retirement plans. Although IRA accounts are not granted 100% protection, a sizeable amount is still protected from creditors. At the time of this writing, a debtor is granted protection of up to $1 million of his or her IRA funds. In order to qualify, however, the funds must be in a traditional or Roth IRA account.

Would you like to learn more about what protection your IRA account may be granted in your bankruptcy case? A Salt Lake City bankruptcy lawyer at the Stone Law Firm can meet with you during a free initial consultation to discuss the affects that filing for bankruptcy may have on your retirement plan. Not only can we help you make the initial decision of whether to file, but we can protect your rights and assets through the life of your bankruptcy case in order to ensure that you still have your nest egg after it all is said and done.

Our skilled bankruptcy attorneys represent clients throughout all of Salt Lake City, Provo and Ogden, Utah and are happy to talk to you about your IRA plan and bankruptcy – during a free case evaluation.

Attorneys Protecting IRA Accounts in Salt Lake City Bankruptcy Cases

With the right bankruptcy attorney at your side, you can ensure that your IRA funds are well-protected, to the full extent of federal law. At the Stone Law Firm, our goal is to give you the personalized representation and dedicated legal counsel you need so you can be granted all the benefits that bankruptcy has to offer.

Interested in protecting your IRA account? Contact a Salt Lake City bankruptcy attorney at the Stone Law Firm today.