Should we move IRA's too?

[drowningintn]

I've been reading all the threads about changing your bank accounts before you file BK. What if we have our IRA's with the same bank we have ccs with?
Will we need to move the IRA's too or are they protected from seizure? We know we need to move the checking account.

Waiting to file sometime this fall.





















\

[TEW]

Nope they are safe. they are also exxempt in the BK. And they do not seize your accounts.

[willbfree]

You need to check with your atty on your first free consultation. We had four various IRA annuities, 401K, 403B plans etc and not all of them were exempt. Our atty had us move the nonexempt one which was an IRA ANNUITY (different from an IRA account) to an exempted retirement account. This is an important question to ask an experienced atty because the wrong answer can cost you a great deal of money. If we hadn't had such a sharp bk atty the trustee would have received every dime in that IRA annuity account.

[drowningintn]

Thank you for all the quick replies. We have talked to a BK attorney and he said the IRA's are exempt from the trustee. I was just worried that the bank could FREEZE them because we have credit cards with the same bank that we will not be paying.