Bankruptcy filers in Georgia usually can exempt retirement plans such as IRAs, 401(k), and pension plans. An exempt asset cannot be reached by the bankruptcy trustee or creditors. So, it is not uncommon for a bankruptcy filer to eliminate tens of thousands of dollars of credit card debt, medical bills or other signature loans, while keeping his/her full IRA or 401(k).

As I discuss in this video, however, this same protection does not apply if you inherit IRA money from someone else – a parent, sibling or other loved one.

Effective bankruptcy planning means that you should expect the unexpected. In this video I offer suggestions about how you can use non-bankruptcy law to avoid trustee seizure of an inherited IRA.

If your financial situation is deteriorating and you think that bankruptcy may be an option at some point in the future, don’t wait until the last minute. Call my office at 770-393-4985 to discuss how bankruptcy works and to learn how the bankruptcy option might affect you.

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Jonathan Ginsberg
Atlanta Bankruptcy Attorney

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Telephone: 770-393-4985
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