IRA

Inherited IRAs Not Exempt from Bankruptcy Protection

Inherited IRAs Not Exempt from Bankruptcy Protection

On June 12, 2014, the United States Supreme Court issued a decision holding that Inherited Individual Retirement Accounts (Inherited IRAs) are not exempt from creditors in a bankruptcy proceeding.  In Clark v. Rameker, Trustee, Justice Sonia Sotomayor, writing the majority opinion, stated that the change in the status of such accounts upon the death of […]

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Big and Bad News for IRA Owners

Historically, individuals who have invested in IRAs have had the ability to roll over each IRA on an annual basis.  Known as the one-rollover-per-year, the IRS’ own Publication 590 has detailed that each individual IRA can be rolled over once in any twelve month period.  However, that has just changed. In 2008, Alvan Bobrow rolled […]

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