Importance of Safeguarding the IRAs

Resource Center

by Matthew T. McClintock, JD | VP of Legal Education, WealthCounsel

The U.S. Supreme Court recently handed down its opinion in Clark v. Rameker, a groundbreaking decision that could affect your clients’ assets. The Court held that inherited IRAs are not protected from creditors in bankruptcy cases in 47 states.

Understand the changes

By familiarizing yourself with the latest developments in this issue, you can create—or revise—a strategy that provides protection for your clients’ retirement funds. Learning more about the recent legal changes means you can anticipate your clients’ needs and provide a solution before a problem arises.

The Standalone Retirement Trust strategy

Can an unintended—and unfortunate—outcome be avoided? Yes, with a Standalone Retirement Trust strategy (SRT). You can protect your clients’ retirement funds by working with them to establish an SRT for their beneficiaries.

Fortunately, WealthCounsel makes it easy for you to draft an appropriate SRT, including the relevant beneficiary designation forms, using Wealth Docx®, our sophisticated yet simple-to-learn document drafting software. Our award-winning solution was created with input from hundreds of estate planning attorneys and industry experts across the nation.

Please complete the form below to download this WealthCounsel Thought Paper to learn more.