As we all are mortal and ageing, there is a certain point in our life where we have to leave our careers and work life. But before you retire, financial security is much needed and it takes proper planning and hard commitment to execute this properly. 307 more words
Tags » Netbenefits
Less Protection for Inherited IRAs
They are no longer exempt from creditors & bankruptcy proceedings.
A SCOTUS ruling raises eyebrows. On June 12, 2014, the Supreme Court ruled 9-0 that assets held within inherited IRAs by non-spousal beneficiaries do not legally constitute “retirement funds.” Therefore, those assets are not protected from creditors under federal bankruptcy statutes.1,2… 1,084 more words