Inherited IRAs are not bankruptcy-exempt as “retirement funds”

On June 12, 2014, the U.S. Supreme Court unanimously held in Clark v. Ramekerthat an inherited individual retirement account (IRA) does not qualify for the “retirement funds” exemption in the Bankruptcy Code and is not excluded from a bankruptcy estate on that basis.

Filed under:
USA, Insolvency & Restructuring, Litigation, Eversheds Sutherland (US) LLP, Retirement
Authors:
Thomas M. Byrne , Brenna M. Clark , Adam B. Cohen , B. Knox Dobbins , Nikola R. Djuric
Location:
USA
Firm:
Eversheds Sutherland (US) LLP