April 5, 2005

VERY SENSIBLE:

IRAs can't be seized in cases of bankruptcy (U.S. Supreme Court's decision is unanimous (NEW YORK TIMES NEWS SERVICE and ASSOCIATED PRESS, April 5, 2005)

The Supreme Court gave bankrupt Americans another layer of financial protection yesterday, ruling that creditors cannot seize their Individual Retirement Accounts.

The unanimous decision shields a nest egg relied upon by millions of people.

Posted by Orrin Judd at April 5, 2005 7:48 AM
Comments

Well, duh! It's just what the statute says.

'Course, these days, the Supreme Court holding that a statute means what it says is a bit newsworthy, I suppose.

Posted by: Mike Morley at April 5, 2005 7:54 AM

What does the ruling say about the Fed's (say, IRA) right to seize them to satisfy claims against Big Brother?

Posted by: Moe from NC at April 5, 2005 8:13 AM
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