US Supreme court case re-inforces advantages of SmartIRA

The SmartIRA knows has weight of value behind it.  The US Supreme Court has unanimously ruled in the Clark case that funds held in inherited IRAs are NOT “retirement funds” within the meaning of §522(b)(3)(C) and therefore are not protected in bankruptcy. It is clear that IRAs are exempted but, before this decision, whether an inherited IRA was subject to the same protection had varying precedent. The decision in Clark is another reason why naming a qualified trust as beneficiary of an IRA is beneficial.  The SmartIRA™ is the a great solution for this issue as those IRA assets would be protected in bankruptcy.

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Post

Trust Fund Industry Roadmap – Past Present & Future

A trust fund owns assets in trust for one or more beneficiaries administrated by a trustee. Over the past two …
Read More

Trust Distribution Requests – Now Digital

Asking for money from a corporate trustee usually becomes an unhappy experience. It does not have to be. Everybody has …
Read More

Directed Trusts : The Ins and Outs

Directed trusts separates who manages the trust assets and who administers the trust assets.  This rule gives everyone loads of …
Read More

Loading...

Pin It on Pinterest