Florida Says ‘Inherited’ IRAs Don’t Get Protection From Creditors

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Florida Says ‘Inherited’ IRAs Don’t Get Protection From Creditors

The federal government created qualified plans – such as Pensions, 401(k), and IRA retirement plans -as an incentive for workers to save for their retirement. As a further incentive, federal law offers protection of these plans’ funds from creditor claims under bankruptcy. But beware, beneficiaries of these qualified plans aren’t so protected from their creditors.

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