It’s Court-time, that busy time in June when the U.S. Supreme Court gets ready for its summer vacation. (Is there any hope for getting away from the ag-based, nine-month school year, when one of our three governmental branches has the summer off?)
Here are a few cases recent cases that caught my attention.
In Clark v. Rameker, No. 13-299, the Court issued a unanimous opinion holding that an inherited IRA does not qualify as an exempt asset. Justice Sotomayor, in her opinion, looks at the characteristics of an inherited IRS—no money can be added, money must be withdrawn, and all money can be withdrawn at any time without penalties—and reached the conclusion that the assets belongs to creditors in