Supreme Court hears oral arguments on IRA status in bankruptcy proceedings

[JURIST] The US Supreme Court [official website] heard oral arguments [day call, PDF] Monday on individual retirement accounts (IRAs) and their interaction with bankruptcy. In Clark v. Rameker [transcript, PDF] the court will decide whether an inherited individual retirement account is exempt from a debtor's bankruptcy estate under Section 522 of the Bankruptcy Code [text], which exempts tax-exempt retirement funds. In October 2010, the Clarks filed voluntary joint bankruptcy and claimed an inherited IRA under the Section 522 exemption, which...

Source: http://jurist.org/paperchase/2014/03/supreme-court-hears-oral-arguments-on-retirement-accounts-in-bankruptcy-proceedings.php

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