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US high court decision surprises estate-planning attorneys
Estate-planning lawyers are contacting clients about a big change in the law when it comes to protecting retirement funds meant to pass by inheritance.
US high court: Inherited IRAs not protected in bankruptcy (UPDATE)
A unanimous U.S. Supreme Court ruled Thursday that inherited Individual Retirement Accounts are not shielded from creditors in bankruptcy proceedings, a decision that clears up confusion about the status of unspent IRAs that parents leave to their children.
Justices ponder if inherited IRAs get bankruptcy shield
In a case that turns on the definition of two words in the expansive language of the Bankruptcy Code, the justices of the U.S. Supreme Court tried to determine whether an inherited retirement account can be shielded from bankruptcy liquidation.
7th Circuit says inherited IRA isn’t exempt in bankruptcy
An IRA that a debtor inherited from her mother was not exempt from creditors’ claims in her bankruptcy case, the 7th U.S. Circuit Court of Appeals has ruled in reversing judgment.
Retirement planning for solo attorneys
More lawyers than ever are going solo, whether by choice or out of necessity, according to recent statistics.
Court rules tax on income from inherited IRA couldn’t be avoided
An unreported retirement distribution related to an inherited individual retirement account is taxable, regardless of the taxpayer’s maneuver to obtain the funds through a trustee-to-trustee transaction, the U.S. Tax Court has ruled in upholding a $13,600 deficiency assessment.
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- Wisconsin attorney loses law license, ordered to pay $16K fine
- Former Wisconsin police officer charged with 5 bestiality felony counts
- Judge reject’s Trump’s bid for a new trial in $83.3 million E. Jean Carroll defamation case
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- The Latest: Supreme Court arguments conclude in Trump immunity case
- Net neutrality restored as FCC votes to regulate internet providers
- Wisconsin Attorney General asks Congress to expand reproductive health services
- Attorney General Kaul releases update at three-year anniversary of clergy and faith leader abuse initiative
- State Bar leaders remain deeply divided over special purpose trust
- Former Wisconsin college chancellor fired over porn career is fighting to keep his faculty post
- Pecker says he pledged to be Trump campaign’s ‘eyes and ears’ during 2016 race
- A conservative quest to limit diversity programs gains momentum in states
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