Tuesday, June 8, 2004
Yesterday’s grant of certiorari by the U.S. Supreme Court in Rouse v. Jacoway (No. 03-1407), blogged here, sparked a spirited dicussion on the TaxProf Discussion Group over whether federal bankruptcy law should protect IRAs from creditors. Greg Germain (Syracuse) and Tom Allington (Indiana-Indianapolis) were two of the most vocal participants and they have agreed to allow TaxProf Blog to share their views with the broader tax community here.
One response to “TaxProf Discussion of Rouse v. Jacaway”
Slightly weird aside: I ran into a District Court case holding that assets in an IRA-based employer plan (SEP or SIMPLE) were subject to creditors’ claims because the ERISA exemption didn’t apply to an IRA and a state-law exemption for IRAs was preempted by ERISA. Ouch!