Individual Retirement Accounts (IRAs) are great tax-deferred savings vehicles, but tax deferral isn’t the only benefit IRAs offer. One potential benefit is creditor protection in the event of a bankruptcy. But when you pass away, are your beneficiaries protected?
Investors should know how their assets can be better protected in the event of bankruptcy or lawsuits. Thankfully, the Supreme Court has helped clear up this issue in recent years. This article will outline some of the issues facing IRA investors and their beneficiaries when it comes to bankruptcy and things they should consider when naming an IRA beneficiary.