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BREAKING NEWS: Supreme Court Decision in Inherited IRA Bankruptcy Case

The Supreme Court ruled this Thursday that Inherited IRAs will not fall under the same protection from creditors as original owner IRAs during bankruptcy proceedings. The unanimous ruling in the Clark vs. Rameker case decided that Inherited IRAs will not be included in the definition of retirement funds within the meaning of 522(b)(3)(C) and thus not protected. The treatment of Inherited IRAs during bankruptcy has gained more focus over recent years as the Baby Boomer generation pass away and leave assets to their children and grandchildren. This decision will impact generational planning for many families, as IRAs are one of the most popular ways to save for retirement.

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