Are IRA accounts protected in a civil law suite in the State of florida
Consumer Protection Attorney
Florida Statute 222.21(2)(a) provides that any money or other assets payable to participant or beneficiary in a qualified retirement or profit sharing plan is exempt from all claims from creditors of the beneficiary or participant. Florida Statutes specifically include under the protection umbrella pension plans designated for teachers, county officers and employees, state officers and employees, police officers, and firefighters. The debtor's IRAs are exempt from creditors, but at least one Florida court has held that inherited IRAs are not exempt from creditors.
Debt / Lending Agreements Lawyer
They are exempt. But if you do get sued for an unpaid debt you should try to either work something out with the creditor or hire an attorney to defend you in the lawsuit.
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