asset protection ira

Did you know that before April 15th every new year you can contribute to two iras at the same time? For example you can contribute $5000 to the 2012 Ira and $5000 to the 2013 Ira.

Did you know that retirement account contributions to an Ira or other retirement plans are exempt on bankruptcy. However these contributions must vest. 8 months after the contribution 60% has vested. 2 years after the contribution 100% is vested.

For retirement planning this is a great way to get caught up in a year where you have extra money available to invest.

For some one facing bankruptcy filing in the long term this can be a place to put savings and not lose them if above the wildcard exception. Be advised that no bankruptcy attorney will ever advise preferring contributions to retirement accounts over paying creditors but we can advise of the treatment and the applications that others have used.