We are talking about retirement funds and how the Bankruptcy Code treats them. The U.S. Supreme Court recently decided one issue that federal appellate courts had disagreed on. The decision is about inherited retirement funds, and it could change the way Texans approach their estate plans.
Bankruptcy is not usually the first thing a person thinks about during the estate planning process. When deciding what will happen with your assets after your death, you generally consider whether a grandchild needs money for college or a child has special needs. You will think about what your family could need and what would mean something to them or make a difference in their lives. You also consider the tax consequences of each bequest.