Legal Opinion
Rousey v. Jacoway
Supreme Court of the United States
Decided April 4, 2005No. 03-1407PublishedCited by 188 opinions
1Opinion of the CourtJustice Thomas
The Bankruptcy Code permits debtors to exempt certain property from the bankruptcy estate, allowing them to retain those assets rather than divide them among their creditors. 11 U. S. C. § 522. The question in this case is whether debtors can exempt assets in their Individual Retirement Accounts (IRAs) from the bankruptcy estate pursuant to § 522(d)(10)(E). We hold that IRAs can be so exempted.
I
Petitioners Richard and Betty Jo Rousey were formerly employed at Northrup Grumman Corp. At the termination of their employment, Northrup Grumman required them to take lump-sum distributions from their…
2Cases cited15 opinions
- Perrin v. United StatesSupreme Court of the United States · 1979
- Patterson v. ShumateSupreme Court of the United States · 1992
- United States v. Security Industrial BankSupreme Court of the United States · 1982
- Commissioner v. SchleierSupreme Court of the United States · 1995
- United States v. LaBonteSupreme Court of the United States · 1997
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3Cited by188 opinions
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