retirement

6 reasons not to roll over your 401(k)

Protection from lawsuits
Protection from lawsuits © iStock

Protection from lawsuits

Federal law protects the money in 401(k) plans from most law suits, says Slott. But IRAs are protected by state law, "so you have to know what's protected in your state," he says.

If law suits, judgments or collections are a concern, a quick phone call to your attorney should let you know if your IRA is shielded from creditors and up to what amount, he says.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
Sponsor

Be An IRA Expert

Lessen the retirement tax bite

Worried about retirement income? Follow these 5 strategies to lessen tax liability.

CD & INVESTING NEWSLETTER

Learn the latest trends that will help grow your portfolio, plus tips on investing strategies. Delivered weekly.

Blog

Jennie Phipps

Feds fight to thwart ID thieves

The IRS, Federal Trade Commission and Social Security Administration are taking steps to protect consumers from identity theft.  ... Read more

advertisement
Partner Center
advertisement

Connect with us