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Posts tagged "IRAs"

7th Circuit: Creditors can access inherited IRAs in bankruptcy

Sometimes, major bankruptcy questions are left unresolved on a bigger scale when circuit courts do not agree. This creates an unsettled issue that is ripe, meaning the question is often appealable to the Supreme Court. An appeals court has recently decided that that inherited retirement accounts (IRAs) are not exempt from bankruptcy creditors in a bankruptcy case. This ruling differs vastly from rulings in other circuits.