Podcast appearances and mentions of Clark V Rameker

Bob Keebler interviews Edwin Morrow of Key Bank and Ohio attorney Bo Loeffler in an in-depth discussion of the implications of the U.S. Supreme Court decision in Clark v. Rameker for asset protection planning and income tax planning for IRAs. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

Bob Keebler interviews Edwin Morrow of Key Bank and Ohio attorney Bo Loeffler in an in-depth discussion of the implications of the U.S. Supreme Court decision in Clark v. Rameker for asset protection planning and income tax planning for IRAs. This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

For several years, there has been a divide among the courts nationwide as to whether or not IRAs that were inherited are protected from creditors or bankruptcy. As of June 12, 2014, we definitively know the answer – and it isn’t an answer most of you will like. The answer, according to the U.S. Supreme Court in Clark v. Rameker is…NO, an inherited IRA is NOT protected from creditors in bankruptcy. If you own an IRA, 401k, 403b, tax-deferred annuity or other qualified asset, understanding a recent Supreme Court decision (Clark v. Rameker) is essential if you wish this asset to be protected from creditors or bankruptcy. The point: INHERITED IRAs are not protected! Yet, with some SMART PLANNING, they can be. You just need to understand how and why to do it. In this episode, Dave Zumpano of Lawyers With Purpose returns to discuss protection of this all-important asset. Every person that has this type of asset, ever financial professional (including financial planners and CPAs), and every estate planning attorney needs to hear and understand this. Read show notes: www.SmartPlanning101.com/25

Clark v. Rameker | 03/24/14 | Docket #: 13-299

A case in which the Court held that the U.S. Bankruptcy Code does not exempt inherited retirement accounts from a debtor's estate in bankruptcy proceedings.