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ROUSEY v. JACOWAY

No. 03-1407.

544 U.S. 320 (2005)

125 S.Ct. 1561

161 L.Ed.2d 563

ROUSEY ET UX. v. JACOWAY

Supreme Court of United States.

Decided April 4, 2005.

Attorney(s) appearing for the Case

Pamela S. Karlan argued the cause for petitioners. With her on the briefs were Thomas C. Goldstein, Amy Howe, Claude R. Jones, and G. Eric Brunstad, Jr.

Colli C. McKiever argued the cause for respondent. With her on the brief were Jill R. Jacoway, pro se, Seth P. Waxman, Craig Goldblatt, and Jorian Rose.*

JUSTICE THOMAS delivered the opinion of the Court.

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...

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