Clark v. Rameker: A Troubling Tale With a Happy Ending
by Matthew T. McClintock, JD | VP of Legal Education, WealthCounsel
I’ll admit to some real surprise when I learned how frequently our Supreme Court reached unanimous decisions in their last session – nearly two-thirds of the time. Hard to believe that disparate bunch could find so many things to agree on, but in case after case they did. And Clark v. Rameker was one of them.
In the wake of their unanimous decision, inherited IRAs have been stripped of their protective status under bankruptcy law and are now open – naked, shivering and vulnerable to the claims of creditors. Fortunately, that’s the beginning of this story – not the end.
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