An inherited IRA does not have the same protection from creditors as an IRA originally saved for the purpose of retirement.That’s a result of a recent Supreme Court ruling, says Bryan Beatty.
Why does this matter? “Because it could make an impact on your retirement savings,” explains Beatty, a partner with Egan, Berger & Weiner, LLC.
IRAs and Roth IRAs receive what is known as a “retirement funds” exemption under Section 522 of the Bankruptcy Code. This exempts tax-exempt retirement funds from a bankruptcy estate.
Except when it doesn’t.
Watch as Bryan Beatty answers several important questions to help you understand the issue….(read more)
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