In Brandon Clark, 2012 DC W
The Bankruptcy Court for the Western District of Wisconsin denied the claim of exemption from bankruptcy for an Inherited IRA.
The bankruptcy court determined that the Inherited IRA did not qualify for the same protection available to non-Inherited IRAs, because it did not meet the definition of a ‘retirement fund’.
The Wisconsin Western Federal District Court (District Court) reversed that decision.
The district court also determined that there is no distinction under the tax code between Inherited and non-Inherited IRA for taxation purposes.
More in the July to September 2012 issue of The IRA Authority ( Subscription required $ 57.97 per year)
