In a landmark decision handed down on June 12, 2014, the United States Supreme Court held that inherited IRAs are not protected from creditors in a bankruptcy claim. In Clark v. Rameker, the Supreme Court unanimously held that retirement funds inherited by a beneficiary after the original plan participant’s death are not considered “retirement funds” in accordance with the federal bankruptcy exemptions. Consequently, an inherited IRA may be considered an asset of a bankruptcy estate from which to satisfy creditors’ claims. Read more.
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