Polsinelli Podcast- Does Your Business Succession Plan Align With Your Estate Plan?
Nowotny on Private Placement Variable Deferred Annuities
Nowotny on Private Placement Life Insurance
Recent Trends in Succession & Estate Planning
Polsinelli Podcast - Getting the Most Out of Your Estate Planning in 2014
The Greatest Gift: Your Individual + Family Estate Plan
The 2010 Tax Relief Act and your estate plan
Are your estate planning documents protecting your assets?
Same-Sex Marriage Cases in 90 Seconds
Should you Opt-Out of the Voluntary Disclosure Program?
Death and Foreign Asset Disclosure. What you don't know can cost you…a lot
Safeguard Your MVA: Devising a Business Succession Plan that will Preserve your Most Valuable Asset
Divorce can be costly, especially when it reveals undisclosed foreign assets.
Estate Planning: Wills, Trusts, & Power of Attorney in Arizona - Putting Family First
Foreign Asset Disclosure Program
On May 26, 2015, the U.S. Supreme Court decided Wellness International Network, Ltd. v. Sharif, (No. 13-935), holding that Article III does not prevent bankruptcy judges from entering final judgment on claims that seek only...more
In this issue:
- The Sec. 1031 Exchange - A Powerful Estate Planning Tool
- Worried About Challenges To Your Estate Plan? Make It No Contest!
- Don't Underestimate The Impact Of State Estate...more
DeGiacomo v. Traverse (In re Traverse), 753 F.3d 19 (1st Cir. 2014) –
A chapter 7 trustee sought to avoid an unrecorded first mortgage and to preserve the lien for the benefit of the bankruptcy estate. In response, the...more
A chapter 7 trustee sought to set aside as a debtor’s transfer of her interest in property held jointly with her husband to her husband’s corporation as a constructive fraudulent conveyance. The bankruptcy court agreed that...more
In Clark v. Rameker, a case decided by the U.S. Supreme Court on June 12, 2014, the Court ruled that an inherited IRA did not constitute “retirement funds” under the Federal Bankruptcy Code and, therefore, those funds were...more
The law says that retirement funds are exempt property in bankruptcy, but the Supreme Court has held that this exemption doesn’t apply to inherited IRAs. End of story? Not quite....more
The already complicated subject of how to handle Individual Retirement Accounts following the death of an IRA holder just got a little more complicated with the recent Supreme Court decision in Clark v. Rameker. The issue in...more
The Bankruptcy Code permits an individual in bankruptcy to exempt from the bankrupt estate “retirement funds” in an individual retirement account (“IRA”) or certain other tax-advantaged vehicles. In a recent case, the U.S....more
Last Thursday, the United States Supreme Court ruled in Clark v. Rameker that funds held in inherited individual retirement accounts (IRAs) are not “retirement funds” for bankruptcy purposes....more
On June 12, 2014 the United States Supreme Court issued its opinion in Clark v. Rameker, 13-299, ruling that inherited IRA accounts are available to creditors in bankruptcy. At issue was a Bankruptcy Code provision that...more
On June 12, 2014, the U.S. Supreme Court issued its opinion in Clark v. Rameker, opening up another source of recovery for creditors and Chapter 7 trustees in bankruptcy proceedings. In Clark, a Chapter 7 debtor inherited...more
On June 12, 2014, the United States Supreme Court unanimously held in Clark v. Rameker Trustee that funds in an individual retirement account (“IRA”) inherited from someone other than the bankrupt debtor’s spouse are not...more
On June 12, 2014, the U.S. Supreme Court unanimously held in Clark v. Rameker that an inherited individual retirement account (IRA) does not qualify for the “retirement funds” exemption in the Bankruptcy Code and is not...more
Q: When is a retirement account not a retirement account?
A: When it's an inherited IRA and the owner is bankrupt.
That's what the Supreme Court said last week in a case involving the Bankruptcy Code's exemption...more
Our post from yesterday discussed how the U.S. Supreme Court ruled in Clark v. Rameker that inherited IRAs are not exempt from creditor claims in bankruptcy. Here are some more observations on that case...more
We have written on the question whether inherited IRAs are exempt from creditors in a federal bankruptcy action. The various courts that have addressed the issue have gone in both directions....more
On June 12, 2014, the United States Supreme Court decided Clark v. Rameker, No. 13-299, holding that funds in an individual retirement account (IRA) that a bankruptcy debtor obtained through inheritance are not "retirement...more
The U.S. District Court for the District of Delaware has affirmed a bankruptcy court order which approved both a sale of the debtors’ assets and the establishment of an escrow account, which essentially provides a “gift” to...more
Ruth Heffron established an IRA naming her daughter, Heidi Heffron-Clark, as the sole beneficiary. Ruth died in 2001 and the account, valued at roughly $300,000, passed to Heidi. After her mother’s death, Heidi then...more
The Ninth Circuit Court of Appeals recently ruled that employers may discharge multiemployer trust withdrawal liability in bankruptcy. Employers required to contribute to multi-employer pension trusts face growing withdrawal...more
Analysts Debate the Effectiveness of Municipal Bankruptcy on Improving Cities
by Joel R. Glucksman on August 22, 2013
Five years after the Great Recession began, a number of cities across the country are still...more
On 24th July the UK Supreme Court handed down its unanimous decision in relation to the LBIE/Nortel appeal, overturning the previous Court of Appeal and first instance judgments....more
On June 11, Southern District of New York Judge Jed Rakoff dismissed the complaint of the Trustee for the SemGroup estate seeking to avoid a novation made to Barclays pre-bankruptcy under a swap agreement....more
On February 1, 2013, the Supreme Court of Canada (SCC) released its much-awaited decision in the Indalex case. While the central issue in Indalex was the priority of wind-up deficiencies in defined benefit pension plans...more
This analysis updates a previous memo and incorporates advice we have received from the Federal Reserve Board (“FRB”) and the Federal Deposit Insurance Corporation (“FDIC”) regarding the preparation of living wills for bank...more
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