Friday, August 14, 2009

Inherited IRA's Are Not Exempt From Garnishment Under section 222.21(2)(a), Florida Statutes

In Robertson v. Deeb (2D08-6428), the Second District affirmed the trial court's order denying the appellant an exemption from garnishment. The court held:

We find this reasoning persuasive and equally applicable to section 222.21(2)(a). Because the plain language of section 222.21(2)(a) references only the original "fund or account" and the tax consequences of inherited IRAs like the one in this case render them a completely separate "fund or account," such inherited IRAs are not exempt under that section. Accordingly, we affirm the order denying Robertson's claim of exemption from garnishment in this case.


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