Keep in mind that ERISA plans like 401K have creditor protection. In most states, IRA also have the same protection. However, inherited ira accounts do not have protection. Some states like Florida have a large homestead exemption, so creditors can't get your house. As others have mentioned, buy umbrella insurance, it's pretty cheap.
Statistics: Posted by gavinsiu — Mon Oct 07, 2024 11:06 pm