Inherited IRA Not Exempt

By William H. Brown, Editor/Adviser to Academy for Consumer Bankruptcy Education

On June 12, 2014, the Supreme Court held, in Clark v. Rameker, 2014 WL 2608860, that an inherited IRA does not constitute “retirement funds” within the meaning of 11 U.S.C. § 522(b)(3)(C). Since that Code section is identical to § 522(d)(12), inherited IRAs would not be exempt under the latter section either. Although the Court affirmed the Seventh Circuit’s decision, In re Clark, 714 F.3d 559 (2013), the unanimous opinion by Justice Sotomayor is broader . . .

It looks like you are not signed in or registered! This content is only available to members.

Or Sign In Below:

No Author Biography has been linked to this Article.

Related Articles

gendron-1
November 10, 2024
A new case has shed light on a common practice by mortgage companies -- denying Chapter 13 debtors access to online payment portals. This case brought to the forefront a significant issue for Chapter 13 debtors across the country—the need for accessible payment methods that allow them to stay current with their mortgage payments and successfully complete their repayment plans.
Members
Angela scolforo
October 22, 2023
Angela M. Scolforo was appointed as the Chapter 13 Standing Trustee for the Western District of Virginia on April Fool’s Day. She replaced Herbert L. Beskin who served as the Trustee for 20 years, retiring in March of this year. Angela received a B.A. in English from College of the Holy Cross in Worchester, Massachusetts, in1987. She did not immediately go...
November 14, 2021
By Mary Beth Ausbrooks, Rothschild & Ausbrooks PLLC (Nashville, TN) With the prolonged decline in case filings, I found that sending a mass emailed newsletter has been very beneficial. In order to send a mass email to a group of people, it was necessary to find software that would send the emails out in such a fashion that the email...
Members
September 15, 2019
By Cathy Moran, Esq. (Redwood City, CA) Mention tax calculations to a bankruptcy attorney and 7 out of 10 freeze on the spot. I'm not a tax attorney, they retort. That's right, but, if you are a bankruptcy attorney, that doesn't relieve you from knowing enough tax to get the means test right. Not to mention not giving up your...
Members
bride
November 20, 2022
What is the Student Debt Relief Plan? On August 24, 2022, President Joe Biden announced a three-part student debt relief plan to help borrowers transition back to regular payments as pandemic-related support expires. The plan includes loan forgiveness of up to $20,000 for Pell Grant recipients with loans held by the Department of Education and up to $10,000 in debt...
Members
JenLee_Headshot
February 9, 2025
“Bankruptcy attorneys often operate from a mindset of scarcity. . . . They undercharge, give away their time, and scrimp on resources, running their practices like they’re always one bad month away from shutting down.”
Members
Copy of Hildebrand-2016
January 16, 2022
While a 13 trustee is partially insulated by the Barton doctrine from being dragged into state court, if a movant seeks authority from the Bankruptcy Court to pursue the trustee and satisfies the conditions of the Barton doctrine, the trustee may be subject to state court judicial proceedings. (Hall) In re Alexander Louis Bednar, 2021 WL 1625399 (Bankr. W.D. Okla....
Members
Copy of Hildebrand-2016
December 11, 2022
A Chapter 13 plan can be confirmed to pay a 100% dividend to unsecured creditors while maintaining payments to a student loan creditor as a long-term debt (which will not satisfy the student loan in the commitment period) without committing all available disposable income. (Mullin) In re Victoria Florita Durand-Day, 2022 WL 14938726 (Bankr. N.D. Tex. October 26, 2022) Case...
Members
lopez-castro
February 9, 2025
“. . . Rules of Evidence can be confusing . . . , particularly the rules about hearsay. Is a statement hearsay but admissible under an exception? Or, is the statement non-hearsay and, therefore, admissible under another rule?” Judge Lopez-Castro takes a look at admissions you will want to read!
Members
Consumer Bankruptcy Education
March 16, 2025
The Academy has just dropped two new podcast episodes – Do Not Engage Parts 1 & 2. Host Jody Bledsoe interviews Trustee Ed Maney and Attorney Ross Mumme regarding the Cestui Que Vie of Arizona. Entertaining for everyone but particularly educational for trustees who may run into this particularly difficult type of debtor. Wherever you listen to podcast, search “Fixing Broke: Consumer Bankruptcy Diary.” While there, leave a positive review!!

Looking to Become a Member?

ConsiderChapter13.org offers a forum to advance continuing education of consumer bankruptcy via access to insightful articles, informative webinars, and the latest industry news. Join now to benefit from expert resources and stay informed.

Webinars

These informative sessions are led by industry experts and cover a range of consumer bankruptcy topics.

Member Articles

Written by industry experts, these articles provide in-depth analysis and practical guidance on consumer bankruptcy topics.

Industry News

The Academy is the go-to source for the latest news and analysis in the Chapter 13 bankruptcy industry.

To get started, please let us know which of these best fits your current position: