In Pennsylvania most retirement accounts are protected from creditors. As with any legal question, it is important to have an experienced attorney evaluate your retirement assets to ensure they are protected.
Generally Pensions, annuities, 401k and 403b accounts are protected from creditors. However, recently some developments have occurred that have left some doubt as to the protection of inherited retirement accounts. Therefore, if you have a judgment against you and you receive an inheritance and it includes retirement accounts or funds, those funds may not be protected from your judgment creditor.
Anyone who may be receiving an inheritance and currently has judgment creditors or debts that are delinquent should consult with our experienced team to evaluate your options. We can help you resolve your debts and maximize your retirement assets.
If you have any questions about the topic discussed in this article, or any bankruptcy law matter, please give us a call at Bononi & Company 724-832-2499.