The debtor’s unfair manipulation of her state homestead exemption claim justified the denial of the claim under the principles of equitable estoppel. Lua v. Miller (In re Lua), No. 15-04026 (C.D. Cal. Nov. 10, 2015). [Read more…] about Debtor Equitably Estopped from Claiming Homestead Exemption
Harris Precludes Attorney Fee Payments Out of Undisbursed Funds
In two cases involving the courts’ practice of permitting the Chapter 13 trustee to distribute undisbursed funds to creditors upon conversion to Chapter 7, the courts found that Harris v. Viegelahn, 575 U.S. ___, 135 S.Ct. 1829 (2015), dictated a different result, even concerning the debtor’s Chapter 13 attorney fees and without regard to whether the case was converted before confirmation of the plan. In re Beauregard, No. 11-13069, consolidated with, In re Rule-Osburn, No. 14-13624, In re Montano, No. 14-12950 (Bankr. N. M. July 10, 2015); In re Sowell, No. 14-44130 (Bankr. D. Minn. Aug. 7, 2015). [Read more…] about Harris Precludes Attorney Fee Payments Out of Undisbursed Funds
IRA Exemption Lost Due to Prohibited Transaction
The debtors’ use of funds in the husband’s self-directed IRA to fund the purchase and development of property was a prohibited transaction that disqualified the IRA from exemption in bankruptcy. In re Kellerman, No. 09-13935 (Bankr. E.D. Ark. May 26, 2015). [Read more…] about IRA Exemption Lost Due to Prohibited Transaction
Child Tax Credit Refund Exemptible as Public Assistance Benefit
The federal Additional Child Tax Credit is a “public assistance benefit,” that may be exempted in bankruptcy under Missouri exemption law. Hardy v. Fink (In re Hardy), No. 14-1181 (8th Cir. June 2, 2015). [Read more…] about Child Tax Credit Refund Exemptible as Public Assistance Benefit
Automatic Stay Is Not Equivalent to Homestead Exemption
Bankruptcy’s automatic stay does not provide the benefits of Florida’s homestead exemption to preclude the debtors’ use of the state wildcard exemption. Valone v. Waage (In re Valone), No. 14-11457 (11th Cir. Apr. 29, 2015). [Read more…] about Automatic Stay Is Not Equivalent to Homestead Exemption
Separated Spouses Chapter 7 Cases Consolidated
Factual considerations supported consolidation of separated spouses’ Chapter 7 cases where the husband claimed federal exemptions and the wife claimed state exemptions. Boellner v. Dowden (In re Boellner), No. 14-2816 (8th Cir. May 12, 2015). [Read more…] about Separated Spouses Chapter 7 Cases Consolidated
Law v. Siegel (In re Law), No. 12-5196 (SCt)
Type: Amicus
Date: September 3, 2013
Description: Whether trustee has the power to impose a special charge on the debtor by taking away homestead exemption for failing to comply with the trustee’s demands for information during discovery.
Result: Debtor won, 571 U.S. ___ (March 4, 2014)
Lump Sum Rollover from IRA to Annuity Not “Premium”
The Eighth Circuit found that the debtor’s retirement annuity funded by a lump sum rollover contribution from his IRA was properly exempted from his Chapter 7 bankruptcy estate. Running v. Miller (In re Miller), No. 13-3682 (8th Cir. Feb. 13, 2015). [Read more…] about Lump Sum Rollover from IRA to Annuity Not “Premium”
Running v. Miller (In re Miller), No. 13-3682 (8th Cir.)
Type: Amicus
Date: March 27, 2014
Description: Whether Individual Retirement Annuity created by lump sum rollover contribution from exempt Individual Retirement Account is exempt under section 522(b)(3)(C).
Result: Judgment affirmed, debtor won. February 13, 2015
Miller 8th Cir NACBA amicus
Miller 8th Cir Opinion
Lump Sum Workers’ Compensation Settlement Exempt under 522(d)(11)
Contrary to the majority opinion, proceeds of a lump sum workers’ compensation settlement were found to be exemptible under section 522(d)(11)(E), to the extent necessary for support of the debtor and his dependents. In addition, a Medicare “set aside” is not property of the estate. Carr v. Arellano (In re Arellano), No. 14-990 (Bankr. M.D. Pa. Jan. 5, 2015). [Read more…] about Lump Sum Workers’ Compensation Settlement Exempt under 522(d)(11)