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masterfisher1

Are Rollover IRAs protected from creditors in non-bankruptcy events in Georgia?

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I live in Georgia, if I roll my old 401k to an IRA, is the IRA still protected from creditors in non-bankruptcy events/proceedings? For example if someone tries to sue me in civil court sometime down the road. My understanding is that a Rollover IRA is still protected by Federal law from creditors in bankruptcy events, but state law determines the protection in "non-bankruptcy" events. I would like to how much, if any, protection is provided by Georgia state law from creditors in "non-bankruptcy" events?  Thank you kindly for any help!

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Hi @masterfisher1

 

Welcome to the community and thanks for posting! Looks like doucar was able to find you a very helpful Georgia code section, which indicates that IRAs are exempt from garnishment until they are paid out/distrusted. However, note subsection (b) of this code, which states that IRAs are not exempt from garnishment for the collection of alimony or child support. So, the sort of obligation will have some impact.

 

Let us know if you have additional questions or concerns!

The FindLaw.com Team

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