Q. My wife and I have a lot of credit card debt and we are having difficulty keeping it current. Most of our savings is in my IRA. Are these funds protected from our creditors? A. In California, Traditional IRA accounts enjoy only limited protection under state law, but expanded protection under federal bankruptcy law…. Read More »
Posts Tagged: IRA’s
Must We Cash in Our IRA’s to Qualify for Nursing Home Medi-Cal?
Q. My wife may soon need nursing care and I will need to apply for a Medi-Cal subsidy to help with the cost. Our incomes are modest and, aside from our home, most of our savings is in the form of our IRA’s. A friend thought I would have to cash them out and “spend… Read More »