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Your email address will not be published.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

How a Bank Trustee understands Millennials

A bank trustee works with clients from the WWII to millennial generations.  They generally each have a unique set of …
Read More

Trust Fund Industry Roadmap for Advisors

Advisors have the option to use a trust fund company that does not compete against them. There will be an …
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

Loading...

Pin It on Pinterest