Not if you file bankruptcy in Texas. The recent decision of In re Chilton 105 AFTR 2d, 2010-575, considered this issue as a case of first impression. The Court based their decision in part that an inherited IRA are funds that are not intended for retirement purposes. A traditional IRA is fundamentally for retirement purposes.
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April 01, 2010
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Always want to make sure you know your jurisdictions rules and exemptions!
Posted by: California Bankruptcy Attorney | November 28, 2010 at 02:34 AM
WHAT ABOUT Maryland??
Thank you!!
Posted by: l | February 20, 2011 at 06:34 PM
hi What is your opinion on an inherited IRA in Maryland. Safe from creditors?
Posted by: keith | February 27, 2011 at 08:40 PM
Hey,
Thanks! Great post you have written on "Are inherited IRA's exempt in bankruptcy?". Really I can say that your post is very informative, I'll come across your blog again when you will update it with new.
Thanks,
Robert
http://www.jrlaw.org/
Posted by: Robert | March 22, 2011 at 08:10 AM