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››11th Cir. Finds the Roth IRAs are protected in Ga. Bankruptcies

11th Cir. Finds the Roth IRAs are protected in Ga. Bankruptcies

By Mary T. Stern
January 25, 2022
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By Nathan Hale (January 24, 2022, 9:45 PM EST) – Ruling on a matter of first impression, the Eleventh Circuit ruled on Monday that Roth IRAs are excluded from Georgia debtor bankruptcy estates under federal law, voiding two lower court decisions on how to deal with popular Individual Retirement Accounts.

The Appeals Panel found that although the Northern District of Georgia Bankruptcy Court had previously declined to find that Roth IRAs should be protected in bankruptcy alongside traditional IRAs — as previously decided by the Eleventh Circuit — subsequent changes to state law made it clear that the Georgia Assembly intended that both types of accounts be treated equally.

“The stream…

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