Bankruptcy

Inherited IRA Distributions Might Face Changes

Posted on: March 14th, 2015
Inherited Individual Retirement Accounts (IRAs) experienced a see-saw effect with bankruptcy for years. Last year the federal government ruled that IRAs are not protected from federal bankruptcy claims. A year prior in 2013, North Carolina lawmakers passed Senate Bill 279, which protects inherited IRAs from state bankruptcy claims. Complications surface for North Carolina residents owning...

Bankruptcy Courts Agree – Inherited IRAs Exempt

Posted on: August 30th, 2011
With the Texas case of In re Chilton reversed in U.S. District Court, which held that the debtor’s inherited IRA was exempt from the claims of creditors, all bankruptcy courts that have ruled on the issue have determined that inherited IRAs are exempt in bankruptcy. ...

Inherited IRAs are protected in bankruptcy – sometimes

Posted on: February 16th, 2010
In a recent ruling, the U.S. Bankruptcy Court for Minnesota held that an inherited IRA was protected from the debtor’s creditors under federal law. In re: Nessa, 105 AFTR 2d 2010-XXXX, 01/11/2010. ...
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