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Supreme Court Holds Inherited IRAs Do Not Qualify for 'Retirement Funds' Exemption under Federal Bankruptcy Law
Journal of Accountancy Link to more items from this source
June 13, 2014

"The Court rejected the debtor's argument that, because the account was originally a retirement account when the debtor's mother created it, it retained that character after it was inherited. According to the Court, the use of the term ' "retirement funds" implies that the funds are currently in an account set aside for retirement, not that they were set aside for that purpose at some prior date by an entirely different person.' " [Clark v. Rameker, No. 13-299 (U.S. June 12, 2014)]  MORE >>

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