My clients had owned a small company for 40 years. They had amassed a half-dozen properties, owned a very valuable home, an expensive recreational vehicle, and of course, a big party boat. But when their company began to falter due to the economy, the owners guaranteed a half-million dollar loan to try to get the [...]
retirement planning
In bankruptcy, an Individual Retirement Account (IRA) is usually protected from creditors. But a controversy has been brewing over protection for an IRA when it is inherited from another person. This should not be controversial and the 8th Circuit‘s Bankruptcy Appellate Panel (BAP) doesn’t think it’s that complicated either. When you establish an IRA, you [...]
