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Supreme Court Rules Against Debtors in Inherited IRA Case

Debtors who are considering filing for bankruptcy now need to determine the source of their retirement accounts.  Inherited accounts are not exempt unless the person inheriting the IRA is a spouse.  Otherwise, the funds in an inherited IRA may be seized and sold by the bankruptcy trustee.  If you are considering filing for bankruptcy and have assets in a retirement account, it is advisable to speak with an attorney prior to filing.