{"id":43,"date":"2014-06-25T09:50:35","date_gmt":"2014-06-25T16:50:35","guid":{"rendered":"http:\/\/www.dbfwclegal.com\/?p=43"},"modified":"2020-07-31T10:08:14","modified_gmt":"2020-07-31T17:08:14","slug":"inherited-iras","status":"publish","type":"post","link":"https:\/\/www.dbfwclegal.com\/inherited-iras\/","title":{"rendered":"Inherited IRAs May be Fair Game for Creditors"},"content":{"rendered":"<section>\n<p style=\"text-align: justify;\">In <i>Clark v. Rameker<\/i>, the United States Supreme Court recently (June 2014) decided that inherited IRAs were not entitled to bankruptcy protection under the federal bankruptcy code.<\/p>\n<p style=\"text-align: justify;\">Although inherited IRAs continue to remain protected in bankruptcy under the Arizona exemption laws, many descendants inheriting IRAs from Arizona decedents may live outside Arizona and their inherited IRAs may be available to the inheritor\u2019s creditors and bankruptcy trustee.\u00a0 For most people this is an undesirable result.<\/p>\n<p style=\"text-align: justify;\">There is a simple and affordable solution to prevent this from happening.\u00a0 Using an IRA inheritor\u2019s trust, a specially designed trust is named the beneficiary of the IRA.\u00a0 If properly designed, the IRA beneficiary will retain all the \u201cstretchout\u201d benefits available to an individual beneficiary with the added benefit that the IRA benefits will not be subject to the claims of the inheritor\u2019s creditors.<\/p>\n<p style=\"text-align: justify;\">The IRA trust was first approved by the IRS in 2005 and is a tried and tested strategy for controlling benefits, stretching out minimum required distributions, and providing protection for creditors.<\/p>\n<p style=\"text-align: justify;\">\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>In Clark v. Rameker, the United States Supreme Court recently (June 2014) decided that inherited IRAs were not entitled to bankruptcy protection under the federal bankruptcy code. Although inherited IRAs continue to remain protected in bankruptcy under the Arizona exemption laws, many descendants inheriting IRAs from Arizona decedents may live outside Arizona and their inherited [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[130,128,129,131,65],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.dbfwclegal.com\/wp-json\/wp\/v2\/posts\/43"}],"collection":[{"href":"https:\/\/www.dbfwclegal.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dbfwclegal.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dbfwclegal.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dbfwclegal.com\/wp-json\/wp\/v2\/comments?post=43"}],"version-history":[{"count":0,"href":"https:\/\/www.dbfwclegal.com\/wp-json\/wp\/v2\/posts\/43\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.dbfwclegal.com\/wp-json\/wp\/v2\/media?parent=43"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dbfwclegal.com\/wp-json\/wp\/v2\/categories?post=43"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dbfwclegal.com\/wp-json\/wp\/v2\/tags?post=43"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}