Bankruptcy Article

Rousey v. Jacoway, U.S. Supreme Court.<br />Decision dated April 4,  2005
The Supreme Court determined that in individual’s IRA was exempt  under federal exemption laws when that individual files bankruptcy.  Before this decision, most courts had concluded that IRAs were available  to bankruptcy trustees and the proceeds to those accounts distributed  to creditors. This decision represents a major victory for individuals  filing bankruptcy, and will help protect that very important asset for  retirement.