News & Analysis as of

Creditors Clark v. Rameker

White and Williams LLP

Pennsylvania Superior Court: No Creditor Protection for Inherited IRAS

Under longstanding Pennsylvania law, retirement savings vehicles like individual retirement accounts (IRAs), 401(k) and 403(b) accounts, pensions, and employee stock ownership plans (ESOPs) are generally exempt from creditor...more

K&L Gates LLP

Inherited IRAs May Not be Protected from the Reach of Creditors

K&L Gates LLP on

In a recent decision, the Supreme Court in Clark v. Rameker held that, after the death of the IRA owner, assets in an inherited IRA for a non-spouse beneficiary are not “retirement funds,” and, therefore, are not protected...more

Proskauer Rose LLP

Wealth Management Update - August 2014

Proskauer Rose LLP on

August Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The August § 7520 rate for use with estate planning techniques such as CRTs, CLTs, QPRTs and...more

Dickinson Wright

The U.S. Supreme Court Holds That Inherited IRAs Are Not Exempt In Bankruptcy

Dickinson Wright on

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

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