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Inherited IRA Alternative

Since the recent federal case Clark v. Rameker that ruled inherited Individual Retirement Accounts (IRAs) are not protected in bankruptcy, individuals may be exploring alternative asset preservation options that can help protect retirement accounts from creditor claims.
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Tax Requirements for Trusts

Do you need to pay income tax on a trust? Every state has different laws regarding whether a trust is taxable in that state. The following post reviews current laws regarding trust taxation in North Carolina and other states our firm serves, although careful review of each state's tax laws is recommended to determine whether trust income is taxable in a particular state.
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