Charles Schwab & Co. v. Debickero, No. 07-15261
In an interpleader action by a bank seeking to determine the ownership of an IRA account held by decedent, summary judgment for the named beneficiaries of the IRA is affirmed where: 1) the surviving spouse protections in ERISA did not apply to the IRA even though some of the funds originated from an ERISA-protected pension plan, and 2) the Internal Revenue Code also did not impose automatic surviving spouse rights on IRAs similar to those protections afforded under ERISA.
Argued and Submitted October 23, 2008
Filed January 22, 2010
Robert A. Olson, Greines Martin Stein & Richland, LLP, Los Angeles, CA
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