IRAs

Separate Accounts for Your IRA Will Help the Beneficiaries

Posted on: May 25th, 2011
The distribution rules for inherited IRAs generally make it advantageous to have separate accounts, which can be done during your lifetime or by December 31 of the year following your death. ...

Texas Court Rules Inherited IRA Protected in Bankruptcy

Posted on: April 1st, 2011
In a ruling entered on March 16, 2011, the U.S. District Court for the Eastern District of Texas, in Chilton v. Moser (2011, DC TX) 2011 WL 938310, reversed the bankruptcy court and held that a debtor’s inherited IRA met the requirements for a bankruptcy exemption under Bankruptcy Code §522(d)(12)....

NC Supreme Court Decision Kinlaw V. Harris IRA Exemption Case

Posted on: April 1st, 2011
I previously blogged about the ruling by the North Carolina Court of Appeals that in addition to IRA accounts being exempt from creditors, distributions from IRAs were also exempt. On appeal, the North Carolina Supreme Court held that “there may be some circumstances under which withdrawn funds are no longer exempt from execution.” ...

Missed Your IRA Rollver Deadline? All May Not be Lost

Posted on: March 27th, 2011
The IRS is often accused of being heartless, but it does show some compassion to taxpayers who cannot complete an IRA rollover within the deadline because of extenuating circumstances. ...

Decision Time is Here if You Did a Roth IRA Conversion in 2010

Posted on: March 22nd, 2011
The rule that made higher-income folks ineligible for Roth IRA conversions expired at the end of 2009. That made 2010 a big year for conversions, because even billionaires could make the transactions. ...

NC Court of Appeals Holds IRA Withdrawals Exempt from Creditors

Posted on: September 16th, 2010
The North Carolina Court of Appeals, in Kinlaw v. Johnson, confirmed statutory law protecting IRAs from creditors, and extended the protection to the account owner’s legal use of IRA funds from collection on a creditor’s judgment. The court stated:...
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