Skip to main content

IRA and 401(k) bankruptcy exemptions in MA

Hello! I understand that IRA and 401(k) accounts are exempt under federal exemption scheme. How are they treated under Massachusetts exemptions? Will I be able to keep $ saved in those accounts?

I also have life insurance which has some value. How does MA exemption law treat life insurance assets? Thank you!

Bankruptcy exemption in MA

Both federal and Massachusetts law exempts all ERISA qualified pensions, such as 401k's and IRA's.  See Massachusetts General Laws Chapter 235, Section 34A.  Follow this link for more information about MA bankruptcy exemptions.  Before deciding which set of exemptions to use (federal or state), you should discuss your situation with a bankruptcy attorney.   Good luck.

Talk to a Lawyer Today
Find a Bankruptcy Attorney in your County
Most offer FREE Consultations