Supreme Court will decide whether bankruptcy protection applies to inherited IRAs
IRA and 401k plans have been long thought to be fully protected from creditors. In recent years limitations on that protection have been put in place, usually for bankruptcy purposes. Since 401k plans are covered by a trust that contains a “Spendthrift” clause, creditors are not permitted to attach or garnish the participant’s interest. If […]
The perils of suing and being sued for fraud in commercial cases in Minnesota
As commercial litigation attorneys, a healthy percentage of the complaints which we initiate or respond to contain a claim that one or both of the parties involved committed fraud. For a variety of reasons, it has become almost standard practice for such claims to be included in complaints primarily involving contracts or business-related torts. While […]