Asset Protection of Retirement Funds After Clark

October 2014

Supreme Court decision denies exclusion of an inherited IRA from a bankruptcy estate

By: Daniel S. Rubin

Journal of Accountancy

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In the Journal of Accountancy (Vol. 218, Issue 4, October 2014), Daniel S. Rubin discusses a Supreme Court case, Clark v. Rameker, No. 13-299 (U.S. 6/12/14).  The decision said that just because funds are held in an account called an individual retirement account (IRA), it doesn't necessarily mean that they are retirement funds.  And if they are not retirement funds, they are not excluded from a bankruptcy estate under Section 522(b)(3) of the Bankruptcy Code.

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