Inherited IRAs are No Longer Safe
From Creditors
   A couple of years ago the Supreme Court decided in Clark v. Rameker that inherited IRAs are not necessarily “retirement accounts” in a bankruptcy and therefore do not qualify as protected from bankruptcy creditor claims. The result is that inherited IRAs may now be considered assets to be taken by creditors in a bankruptcy proceeding.
   I had the opportunity to speak to a group of estate planning professionals in the SW Missouri region recently about this ruling, and it brought back to the forefront of my mind the importance of making sure people are aware of this change.
   There are legal strategies that can be employed to ensure that your inherited IRA is protected, however, it does take planning and preparation.
   This article from EstatePlanning.com gives a clear and concise explanation of the planning involved to protect inherited IRAs and could be a valuable resource to you and your clients.
(click to read article)
   And as always, my office is here to be an asset to you. Please feel free to contact us about any questions at 417.623.2062. If you have a group that would be interested in my Clark v. Rameker presentation, I would be happy to schedule a meeting with you.
     The Law Firm of Christopher W. Dumm has been partnering with other professions like you for 20 years, providing clear and proactive planning for their clients.  We value a team approach and are increasing the resources we provide to you and your clients. Call us or email us today for more information, and as always, please let your clients know about our upcoming workshops in our office in Joplin.
417.623.2062
Sincerely,