$300,000
Bankruptcy Law
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Case Details
The United States Supreme Court ruled in Clark v. Rameker that inherited IRAs are not exempt from the claims of creditors in bankruptcy. This decision stemmed from a case where a daughter inherited $450,000 in an IRA, drew it down to $300,000, and then filed for bankruptcy, with creditors successfully arguing the funds were not protected.
Additional Notes
U.S. Supreme Court ruled that inherited IRAs are not protected from creditor claims in bankruptcy, overturning lower court decisions.
Represented By
Davis, Butt, Taylor & Clark, PLC
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