Asset Protection Using a Spendthrift Trust or Discretionary Trust

For many people, an important part of estate planning is protecting the assets of the estate for the estate’s beneficiaries. If your beneficiaries have creditors, or if they could wind up with creditors down the road, asset protection should be of some concern.¬†Odds are, you probably know someone who has a lot of debt. The … Read more

Should You Avoid Leaving Your IRA to Beneficiaries Who Are Considering Bankruptcy?

The short answer: possibly, depending on where your beneficiaries are located. Over the summer, the U.S. Supreme Court took on the question of whether or not an inherited IRA is exempt from a debtor’s bankruptcy estate in Clark v. Rameker. The Supreme Court held–unanimously–that an inherited IRA is not exempt from a debtor’s bankruptcy estate, … Read more