Lerbakken v. Sieloff and Associates, P.A., No. 18-3415 (8th Cir. 2020)Annotate this Case
The Eighth Circuit affirmed the bankruptcy appellate panel's judgment upholding the bankruptcy court's determination that debtor's interest in his ex-wife's IRA and 401(k) retirement accounts that were awarded to him after the dissolution of marriage were not exempt as retirement funds. The court explained that debtor's interest in his ex-wife's IRA and 401(k) accounts lacked most of the legal characteristics of ordinary "retirement funds."