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Chapter 7 & 13 | Consumer Bankruptcy

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Retirement Accounts Awarded in Divorce May Not Be Exempt in Bankruptcy

The U.S. Supreme Court’s decision in Clark v. Rameker, 134 s.Ct. 2242(2014), saying that inherited IRAs are not exempt in bankuptcy, formed the basis for a 2018 ruling from the Bankruptcy Appellate Panel involving a different type of retirement account: divorce court-awarded IRAs and 401(k)s. While the bankruptcy code’s section 522(d)(12) allows an exemption for…

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