Clark v Rameker decision by Supreme Court Today, the Supreme Court held in favor of a trustee who argued that a debtor cannot exempt a tax-exempt inherited individual retirement account under a section of the bankruptcy code that allows debtors to exempt “Retirement funds to the extent that those funds are in a fund or […]
Posts Categorized: US Supreme Court
Supreme Court to hear Bankruptcy Case on Inherited IRA account
Many people don’t realize that a debtor in bankruptcy can usually keep the money that is in their retirement accounts. This is because in 2005, Congress amended the bankruptcy code and added 11 USC 522(d)(12), which allows debtors to exempt “[r]etirement funds to the extent that those funds are in a fund or account that […]