News & Analysis as of

Estate Planning Clark v. Rameker Supreme Court of the United States

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
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

Weintraub Tobin

U.S. Supreme Court Ruling Regarding Inherited IRAs Highlights the Benefits of IRA Trusts

Weintraub Tobin on

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

Snell & Wilmer

U.S. Supreme Court Rules That Inherited IRAs are Available to Pay Creditors

Snell & Wilmer on

On June 12, 2014, the U.S. Supreme Court issued its opinion in Clark v. Rameker[1], opening up another source of recovery for creditors and Chapter 7 trustees in bankruptcy proceedings. In Clark, a Chapter 7 debtor inherited...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

FordHarrison

When is a Retirement Account not a Retirement Account?

FordHarrison on

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

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Retirement-Fund Bankruptcy Exemption Case: Clark v. Rameker

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

Burr & Forman

Debtor’s Estate Set To Expand Or Contract Based On Supreme Court Ruling In Clark v. Rameker

Burr & Forman on

Before the Supreme Court this term is the question of whether a beneficiary individual retirement account (an “Inherited IRA”) is exempt from a debtor’s bankruptcy estate under 11 U.S.C. § 522(b)(3)(C) and (d)(12)2 of the...more

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