Can Retirement Accounts Acquired Through Inheritance or Divorce be Protected in Bankruptcy?
Section 11 U.S.C. 522(d)(12) of the Bankruptcy Code allows a debtor to protect retirement funds in an account that is exempt from taxation under the Internal Revenue Code of 1986. Retirement accounts set up under Sections 401, 403, 408, 408A, 414, 457 and 501(a) of the Internal Revenue Code of 1986 are known…