The Internal Revenue Code defines an IRA as an individual retirement account/ annuity which was acquired because of the death of another person when the recipient was not the surviving spouse. The Judicial Code protects retirement funds and accounts from attachment or execution by judgment creditors. Until recently, Pennsylvania Courts had not addressed whether inherited IRAs were subject to that protection. In June, the Pennsylvania Supreme Court denied an appeal from a January 2022 ruling by the Superior Court of Pennsylvania regarding Inherited IRAs. The issue arose in an Allegheny County garnishment action and was eventually presented before the Pennsylvania… read more »
PA Judgments Must Be Revived
A “judgment holder” or “judgment creditor” is the person or entity that obtains a judgment against a “judgment debtor.” The ultimate goal of many lawsuits is to win a monetary judgment against the other party. However, the judgment holder might not automatically receive payment once a judgment has been obtained. In Pennsylvania, there are certain requirements for reviving a judgment in order to ensure that you do not lose your rights as a judgment holder. A judgment issued by a Magisterial District Justice or MDJ expires after 5 years if nothing is done. A judgment at the county Court… read more »
You’ve Been Served … Now What?
Article by: Hunter Schenck, Esquire Finding out that you have been sued can be scary, daunting, overwhelming, and confusing. Court papers often contain “legalese” which can leave you wondering what to do. This article addresses some litigation basics that will help you know when to contact our office and what to do at the beginning of litigation whether you are an individual or part of a company. If you have just been served you have some time to figure out what to do. Take a breath and read the papers that you’ve received. They should give you an idea of… read more »