Legal Question in Bankruptcy in California

Re: Are IRA's exempt in Minnesota?

Under Minnesota Statutes pension plans - which includes IRAs - are exempt up to $54,000 plus any additional amount which is "reasonable." When filing bankruptcy, however, you may choose to use the federal exemption which has no specific dollar limit at all.

For more details you might want to look at www.bkylaw.com.

This response is for general information purposes only and does not create an attorney-client relationship. Consult the attorney of your choice concerning the details of your case.