• Patrick D. Newton is a North Carolina Board Certified Specialist in Estate Planning and Probate Law.

An Inherited IRA and Bankruptcy

In Clark v. Rameker, a case decided by the U.S. Supreme Court on June 12, 2014, the Court ruled that an inherited IRA did not constitute “retirement funds” under the Federal Bankruptcy Code and, therefore, those funds were not exempt assets of the bankrupt estate and were subject to the claims of creditors.

Article from JDSupra:

Comments are closed