Jul 2, 2014

Posted by in Blog - "Altman Speaks"

How to Protect Inherited IRAs After the Clark v. Rameker Decision

In a landmark, unanimous 9-0 decision handed down on June 12, 2014, the United States Supreme Court held that inherited IRAs are not “retirement funds” within the meaning of federal bankruptcy law. This means they are therefore available to satisfy creditors’ claims.  (See Clark, et ux v....

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Jun 26, 2014

Posted by in Blog - "Altman Speaks"

A Note to You, Gary…

Anyone who knows Gary well knows that he does not like drawing attention to the many professional honors he receives.  That being said, as the people who have the privilege of working with him every day, we are especially proud of this one… Last week, Gary was honored with a Lifetime...

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Jun 25, 2014

Posted by in Blog - "Altman Speaks"

Coming Soon: Changes to the DC Estate Tax!

Yesterday, the DC Council voted to approve a sweeping tax cut bill which includes changes to the District’s estate tax. Currently, estates in the District with a taxable value greater than $1 million are subject to DC estate tax.  If the bill is signed into law, the estate tax exemption...

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Jun 12, 2014

Posted by in Blog - "Altman Speaks"

Supreme Court: Inherited IRAs Not Protected in Bankruptcy

When Heidi Heffron-Clark inherited an IRA from her mother in 2001, she was unaware that, upon filing for bankruptcy nine years later, the account could not be shielded from creditors. In an opinion that was unanimously agreed upon, Justice Sonya Sotomayor, announced the court’s ruling that...

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Jun 2, 2014

Posted by in Blog - "Altman Speaks"

The Unintended Consequences of Some Provisions

I have been writing in my blogs about the importance of the words that are written in estate planning documents and how these words have consequences.  Many times attorneys just use the same words over and over again, without ever thinking about the meaning or the consequences in a partically...

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