Jacksonville, FL asked in Bankruptcy for Florida

Q: If I declare bankrupcy, will my 401K, Social Security and Roth IRA be protected?

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3 Lawyer Answers
Robert Jason De Groot
Robert Jason De Groot
Answered
  • Bankruptcy Lawyer
  • Deltona, FL
  • Licensed in Florida

A: Read chapter 222 of the Florida Statutes. This is the exemptions chapter and retirement funds are exempt from the claims of creditors.

Radha Rothrock
Radha Rothrock
Answered
  • Naples, FL
  • Licensed in Florida

A: Most of your retirement assets are protected if you file bankruptcy. Be careful if you rollover IRAs and then file bankruptcy. The rules can get tricky there. Consult with a bankruptcy attorney before transfering the retirement.

Andrew Bresalier
Andrew Bresalier
Answered
  • Plantation, FL
  • Licensed in Florida

A: Unless you deposited more than usual, or during a roll over you took personal possession, your retirement plans should be protected per Fl St 222

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