By William H. Brown, Adviser, Academy for Consumer Bankruptcy Education
In Clark v. Rameker, 134 S.Ct. 2242 (June 12, 2014), the Supreme Court held that an inherited IRA does not constitute a “retirement fund” 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 . . .
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