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Recent Supreme Court Case Highlights New Concerns in Naming IRA Beneficiary
Quarles & Brady LLP Link to more items from this source
Aug. 11, 2014
"While most states ... do not exempt inherited IRAs, some states (e.g., Florida and Arizona) specifically provide that inherited IRAs are exempt.... However, one should carefully consider whether reliance on the state protection creates a false sense of security. If a parent resides in Florida or Arizona but the child inherits the parent's IRA and resides in a state that does not specifically protect inherited IRAs ... the inherited IRA could be subject to the claims of creditors in bankruptcy."

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