by William W. Erhart, Esq.
As you also know, for most Americans, the largest asset we typically have is our house, but the second largest asset we typically have is our qualified retirement plan, such as an IRA.
We do not usually have to worry too much about our own IRAs with regard to asset protection. Qualified retirement plans, for the most part are exempt from the execution process. That means that judgment creditors cannot attach IRAs if we are unfortunate enough to have a car accident or get otherwise sued and have a judgment against us.