Inherited IRA Retirement Account Could Be Exempt From Bankruptcy
Many people fear losing everything they own if they pursue bankruptcy, but that is not the case. As just one example, federal law generally provides for the exemption of retirement funds from bankruptcy proceedings, if the funds meet the applicable requirements under the law. This exemption may apply even if those retirement funds were inherited from a parent, as demonstrated when the United States Bankruptcy Court discussed the issue in the Chapter 7 bankruptcy case of In re Trawick. A retirement account ...
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