On April 20, 2005, President Bush signed into law the Bankruptcy
Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA).
The new law, which goes into effect on October 17, 2005,
generally makes it tougher for people to protect their assets in
the event of personal bankruptcy. But there's one notable
exception: IRAs, fast becoming the biggest asset people have,
actually receive more protection under the new law.  Under the
new law, up to $1 million of the assets you hold in traditional
IRAs and Roth IRAs, or a larger amount determined by the
bankruptcy court, will be exempt from your bankruptcy estate.
What's more, IRA assets that came from an employer retirement
plan rollover--such as a 401(k), 403(b) or profit-sharing plan--
won't be subject to the claims of your creditors, regardless of
the state in which you reside or the value of your rollover
assets and their subsequent growth.  The new law also reinforces
the unlimited protection that currently exists for 401(k) plans,
457 plans, 403(b) plans, go