Retirement accounts are typically afforded protection from creditors, even when someone has filed for bankruptcy under the Bankruptcy Abuse Prevention and Consumer Protection Act. However, the Supreme Court has now held that Inherited IRA’s may not have that same protection. The Inherited IRA In the case of Clark v. Rameker the Supreme Court found that an Inherited IRA …
Do I need a Will?
The Question: Do I need a Will? We get this question all the time from clients. And here is the answer I always give them. With every part of estate planning, Will, Power of Attorney, Advanced Health Care Directive, the problem is, once you need it, you can no longer do it. Is it a gamble? …
I owe money on my Inheritance?
Inheritance Tax Inheritance tax is exactly what it sounds like: tax paid on your inheritance. Depending on what your relationship is to the decedent, you could owe the State taxes. This is different from Estate Tax, which New Jersey recently did away with. You can read all about that here. We’ll talk a little more about …
