Debtor’s IRA Is Exempt From Creditors Under Texas Law

A debtor’s interest in the assets contained in her Individual Retirement Account (IRA) and her right to receive distributions from the IRA are “unconditionally exempt” from creditors under the Bankruptcy Code and Texas law, a bankruptcy court in Texas held July 6 (In re Moore, 2016 BL 217092, Bankr. E.D. Tex., 15-42046 (Chapter 7), 7/6/16).

Judge Brenda T. Rhoades of the U.S. Bankruptcy Court for the Eastern District of Texas overruled Chapter 7 trustee Chrisotpher Moser’s objection to debtor Elizabeth Bratton Moore’s claimed exemption in her IRA.

Tex. Prop. Code § 42.0021(a) provides an unlimited exemption of the ...