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  • Writer's pictureSarah Little

United States Supreme Court rules that an IRA that is inherited from a parent is not exempt from cre

In a bankruptcy case decided last term, the United States Supreme Court affirmed the 7th Circuit's decision holding that funds in an inherited IRA are not set aside for the debtor's retirement and are thus not "retirement funds." The court did note that IRAs inherited from a spouse may be treated differently. Clark v. Rameker , 573 US___, 134 S.Ct. 2242 (2014).

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