- On September 16, 2015
Ex-Spouse Successfully Attacks Inherited IRA
Is your IRA or 401(k) fully protected from creditors and divorce? Unfortunately, the answer is likely “no.”
On September 14, 2015, an Illinois Appellate Court opined in a divorce case that an IRA inherited by a son from his mother is not outside the reach of the son’s ex-wife or other creditors. A disastrous result for the son and likely not what the mom would have wanted.
Through effective estate planning, you can ensure that this does not happen to your children when they receive your IRA or 401(k). Kelleher & Buckley, LLC regularly assists clients with IRA and 401(k) protection planning. Please consider contacting us at (847) 382-9130 for more information. We are here to help you protect your family.