The Supreme Court’s recent decision in Clark v. Rameker means that every person needs to understand their options for protecting this important asset!
If you own an IRA, 401k, 403b, tax-deferred annuity or other qualified asset, understanding a recent Supreme Court decision (Clark v. Rameker) is essential if you wish this asset to be protected from creditors or bankruptcy.
The point: INHERITED IRAs are not protected! Yet, with some SMART PLANNING, they can be. You just need to understand how and why to do it.
Every person that has this type of asset, ever financial professional (including financial planners and CPAs), and every estate planning attorney needs to hear and understand this.
I wrote a blog post on this topic (An Inherited IRA Is NOT Protected From Creditors in Bankruptcy!) the day after the decision was rendered. You can access the decision and learn more: click here.
To learn more about Dave Zumpano, click here.
If you are an attorney or financial professional that wants more instruction on the legal-technical aspects of this decision, contact Lawyers With Purpose – Click here.