Case Summary:
The Trustee challenged the Debtor’s claim of exemptions. The Debtor claimed an exemption for an inherited IRA under Wis. Stat. § 815.18(3)(j). The Court noted that the statute provided an exemption for “retirement benefits” provided “by reason of age, illness, disability or length of service and payments made to the debtor therefrom.” The Court noted that an inherited IRA does not fit this requirement. Instead, the Debtor is entitled to benefits immediately, without regard to any of the factors listed above. The Court also noted that the Supreme Court had explicitly held that an inherited IRA was not a retirement benefit in Clark v. Rameker, 134 S. Ct. 2242 (2014).