Posted by: Barbara Theofilos, CPA
In a unanimous decision, the U.S. Supreme Court ruled that inherited IRAs are not considered retirement funds and therefore are not protected in bankruptcy.
The assets held in a traditional IRA account are considered to be safe in bankruptcy since the system is designed to ensure that these funds are available during retirement.
Learn more about inherited IRAs here.
If you have questions on this, or any other tax or business related issue, please contact the experts at Zinner & Co.
