Is an Inherited IRA Protected from Creditors? No!
In general, IRAs and other retirement accounts, such as 401(k)s and SEP plans, are protected if the owner declares bankruptcy -- one more reason to fund your retirement plan with as much as possible. But what about an inherited IRA? The U.S. Supreme Court recently decided in Clark v. Rameker that these accounts do not enjoy any bankruptcy protection under federal law.
Click here to learn more.
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Attorney Benson Chosen as an Honoree at Annual Top Women of Law Event
Margolis and Bloom attorney Rebecca J. Benson has been selected as one of the Top Women of Law by Massachusetts Lawyers Weekly. The Top Women of Law event celebrates outstanding achievements made by exceptional attorneys. Each year Massachusetts Lawyers Weekly honors women who have made tremendous professional strides and demonstrated great accomplishments in the legal field, including: pro bono, social justice, advocacy and business. The awards highlight women who are pioneers, educators, trailblazers, and role models.
Click here to see the rest of the honorees. |
Resource: A Primer on the Massachusetts Estate Tax
While very few people are
subject to a federal estate tax, which only applies to estates exceeding $5.34 million (in 2014), many more are subject to the Massachusetts estate tax, which applies to estates over $1 million. While the Massachusetts estate tax rate is not nearly as high as the federal rate, many clients still prefer to reduce or eliminate the estate tax their heirs will have to pay.
Click here to learn more about the Massachusetts estate tax, and the steps you can take to reduce or eliminate your estate tax burden.
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