supreme court

Supreme Court: Inherited IRAs are NOT Retirement Accounts … and What This Means For You

In a landmark decision last Thursday, the Supreme Court ruled unanimously, 9-0, that inherited IRAs are not protected in bankruptcy under federal law. The decision has far reaching ramifications and, depending on your heirs' specific circumstances, may give you pause as to who — or what — is the best beneficiary for your retirement accounts. Click to learn more about this ruling and how it may affect you.

How the Supreme Court’s DOMA Decision Creates More of the Same

On June 26, 2013 the United States Supreme Court struck down part of the Defense of Marriage Act, commonly known as DOMA, as unconstitutional. In particular, the Supreme Court decided that if same-sex marriages are recognized under state law, the federal government must recognize those marriages as valid too. This has obvious implications for a virtually infinite list of financial items including federal tax issues, Social Security benefits, healthcare benefits and various rights with regard to retirement assets afforded under ERISA.

What the Supreme Court Ruling on Health Care Law Means For YOUR Taxes

The Supreme Court upheld President Barack Obama's 2010 Health Care Law, the Affordable Care Act, with a 5-4 "up" vote on its constitutionality based on Congress' taxing power. Regardless of your politics, with the Supreme Court's decision, there is more certainty that health care taxes, what we call the health care surtax, will take hold on high-income earners in 2013. Ed Slott outlines what the Supreme Court ruling means for YOUR taxes and retirement planning situation in this IRAtv video below:

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