Tag Bankruptcy

Legal Buzz: Bankruptcy & Your Inherited IRA: Part 2

Legal Buzz Bankruptcy & Inherited IRA’s: Part 2 A spouse may circumvent the Supreme Court’s ruling in Clark v Rameker because a spouse can roll the inherited IRA into the spouse’s own IRA to avoid forfeiture in Bankruptcy. Spousal IRA heirs are treated differently than non-spousal heirs because of the ability to do a “Rollover”

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Legal Buzz: Bankruptcy & Your Inherited IRA: Part 1

Legal Buzz Bankruptcy & Inherited IRA’s: Part 1 On June 12, 2014 the US Supreme Court Case decided in Clark v Rameker, that inherited IRA’s (401k’s etc.) are not protected retirement assets and therefore are forfeited in Bankruptcy. The court ruled that unlike retirement assets, inheritors can’t put additional funds into the account; and they

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