Supreme Court Rules Against Debtors in Inherited IRA CaseBankruptcy | 06.16.14
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.