The United States Supreme Court has ruled that inherited Individual Retirement Accounts (IRAs) are not protected under federal exemption laws. Clark v. Ramekers, 573 U.S. ____ (2014). Even though inherited IRAs are exempt under federal income tax laws, the court said they are not really “retirement funds” under Section 522(b)(3)(C) of the Bankruptcy
Nebraska Bankruptcy Judge Thomas Saladino has issued a written opinion protecting funds held in an Individual Retirement Account (IRA). Creditor First National Bank of Wahoo objected to Troy Euse’s claim of an exemption protecting $163,000 held in his IRA account and another $240,000 in a 401(k) retirement account, case number 10-43179.
The debtor claimed