Before I go and drain my 401K into an IRA, I've been seeing mentions that a 401K has better legal protection from creditors than an IRA.
My google-fu must be weak. I see 401Ks are protected by fed law, but that IRA protections vary by state. The only descriptions of state protections are either somewhat shady websites looking to drum up business or they just reference state codes that reference other state codes that reference various sections of multiple IRS codes that make my eyes glaze over. I haven't found anything with an authoritative easy to understand answer.
Other than "consult your tax attorney", has anybody found a good source of information on legal protections for an IRA that's doesn't require a law degree (and a legal research aide for chase all the cross references)?
My google-fu must be weak. I see 401Ks are protected by fed law, but that IRA protections vary by state. The only descriptions of state protections are either somewhat shady websites looking to drum up business or they just reference state codes that reference other state codes that reference various sections of multiple IRS codes that make my eyes glaze over. I haven't found anything with an authoritative easy to understand answer.
Other than "consult your tax attorney", has anybody found a good source of information on legal protections for an IRA that's doesn't require a law degree (and a legal research aide for chase all the cross references)?