United States

Are inherited IRAs exempt in bankruptcy?


In a recent article published in Estate Planning, RSM Washington National Tax director, Audrey Young, discusses estate planning and asset protection for inherited IRAs. The article details conflicting federal circuit court decisions involving inherited IRAs subject to bankruptcy proceedings and points out tax-deferral and planning opportunities not raised in the court opinions. In December 2013, the U.S. Supreme Court agreed to resolve the circuit court split, and oral arguments will be held in Clark v. Rameker on March 24, 2014. Read Young’s article, which was cited in the petitioner’s U.S. Supreme Court brief.