Can Creditors Take Your IRA? Here’s What You Need to Know

Can creditors really take your IRA? In this video, we explains how IRAs are protected in bankruptcy — and the mistakes that can make you lose that protection. Learn about excess contributions, self-dealing, prohibited transactions, and the federal protection limit ($1.71 million). We also cover which states offer unlimited protection, how inherited IRAs work, and how to fix excess contributions before it’s too late. 0:00 – Intro: Can You Lose Your IRA in Bankruptcy? 0:20 – Federal Protection Limit ($1.71 Million) 1:21 – Contributions vs Rollovers 1:47 – Stephanie’s Case: How She Lost IRA Protection 2:12 – Inherited IRA Mistake Explained 2:50 – Excess Contributions = Lost Tax-Exempt Status 3:15 – How to Fix Excess Contributions 4:00 – Prohibited Transactions & Self-Dealing 5:55 – Investing in Your Own Business = Not Allowed 6:59 – Self-Directed IRAs & Risks 7:21 – Spousal vs Inherited IRA Protection 8:06 – States with Unlimited Protection (FL, GA, AL) 9:03 – 401(k) vs IRA in Bankruptcy 9:45 – Rollovers, Transfers & Proof of Funds 10:22 – Don’t Fall for Bad IRA Advice Online 11:00 – What to Do if Facing Bankruptcy 11:41 – Recap: Keep Tax-Exempt Status Safe 12:01 – Final Thoughts & Jazz Wealth Outro Jazz Wealth Managers helps individuals and families achieve financial security through retirement planning and investing strategies. Our videos offer actionable guidance on navigating Roth IRA's, 401ks, IRAs, Social Security, and more. Whether you're approaching retirement or just getting started, learn how to make informed financial decisions for a prosperous future. Subscribe for more! #retirement #retirementplanning #dohstr8 ---Ready to subscribe--- https://www.youtube.com/jazzwealth?sub_confirmation=1 For more information visit: https://www.jazzwealth.com/ --- Instagram @jazzWealth --- Facebook https://www.facebook.com/JazzWealth/ --- Twitter @jazzWealth Business Affairs 📧Support@JazzWealth.com Jazz Wealth Advisors was recently ranked #36 among financial advisors in the USA by USA Today (Financial Pros) as of April 2025. This ranking was published on 04/22/2025 and was prepared by the Financial Pros without any compensation paid by Jazz Wealth Advisors. The ranking is based on advisors with an AUM of up to $500M. Rankings and recognition from rating services are no guarantee of future investment success and do not ensure that a client or prospective client will experience a higher level of performance. For more information about the methodology used in this ranking and other important disclosures, please visit USAToday.com. Jazz Wealth Advisors is a registered fiduciary investment advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies.