Retirement benefits are, in many cases, protected assets when it comes to creditors. But there are confusing rules about the protection of such assets and some critical exceptions to those rules that should be considered by practitioners dealing with clients facing creditor claims or potential bankruptcy. Protection of retirement benefits requires planning and thorough knowledge of the rules. Leading asset protection strategist Barry S. Engel outlines the necessary strategies and the potential pitfalls in a chapter in the new edition of CCH’s Asset Protection Planning Guide. In chapter 15 of this book, Engel discusses the rules surrounding protecting retirement benefits, while pointing areas of potential confusion and strategies for avoiding problems when confusion arises.
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This story is from the CCH’s monthly Focus on Tax newsletter, which provides advise and guidance on federal and state tax issues for tax and accounting professionals.
Read this article from CCH’s Journal of Taxation of Financial Products.