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Text of Supreme Court Opinion: Funds Held in Inherited IRAs Are Not 'Retirement Funds' Exempt from Bankruptcy Estate (PDF)
Supreme Court of the United States 
June 12, 2014 13 pages. "Three legal characteristics of inherited IRAs provide objective evidence that they do not contain such funds. First, the holder of an inherited IRA may never invest additional money in the account. Second, holders of inherited IRAs are required to withdraw money from the accounts, no matter how far they are from retirement. Finally, the holder of an inherited IRA may withdraw the entire balance of the account at any time -- and use it for any purpose -- without penalty." [Clark v. Rameker, No. 13-299 (U.S. June 12, 2014)] MORE >> |
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