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Using Trusts to Protect Benefits from Beneficiaries' Creditors

As Thomas C. Foster points out in his companion piece to this article (see p. 54), the law governing the protection of inherited individual retirement accounts from creditors is uncertain at best. The statutes and court interpretations vary from state to state. For example, the Florida statute provides that assets payable to an owner, a participant, or a beneficiary from, or any interest of any owner,

As Thomas C. Foster points out in his companion piece to this article (see p. 54), the law governing the protection of inherited individual retirement accounts from creditors is uncertain at best. The statutes and court interpretations vary from state to state. For example, the Florida statute provides that “assets payable to an owner, a participant, or a beneficiary from, or any interest of any owner, participant, or beneficiary in” a qualified plan or IRA are exempt from claims of creditors

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