Thursday, July 10, 2014
Robert L. Moshman, recently published an article entitled, Clark v. Rameker, 573 U.S. __ (2014) No Bankruptcy Exemption for Inherited IRA, The Estate Analyst, July 4, 2014. Provided below is the introduction to the article:
It is not often that the Supreme Court provides a clear rule on any aspect of financial planning (or even graces our niche with a passing reference), so these occasions call for special attention.
On June 12, 2014, the Supreme Court’s decision in Clark v. Rameker clarified that an inherited IRA is not a protected retirement fund for bankruptcy purposes.
Here, we analyze the decision and its impact on planning issues and review the applicable rules and caveats that apply to inherited IRAs.