Inherited IRA isn’t exempt in bankruptcy 
Published: April 29, 2013
Tags: exemption, Individual Retirement Account, inheritance, IRA, wills and trusts
An IRA that a debtor inherited from her mother was not exempt from creditors’ claims in her bankruptcy case, the 7th U.S. Circuit Court of Appeals has ruled in reversing judgment.
Debtor’s Mercedes may qualify for Calif. exemption
Published: March 8, 2013
Tags: exemption
A Chapter 7 debtor’s luxury automobile may qualify for California’s so-called “wildcard” or “grubstake” exemption, the 9th U.S. Circuit Court of Appeals has ruled in affirming judgment.
Garnishment law doesn’t create bankruptcy exemption
Published: December 12, 2012
Tags: consumer protection, exemption, garnishment
A state law limiting wage garnishment does not create an exemption for a debtor in bankruptcy, the Utah Supreme Court has ruled in answering a certified question from the 10th Circuit.
Chapter 7 debtors can’t fully exempt child tax credit
Published: September 6, 2012
Tags: child tax credit, exemption, taxation
Chapter 7 debtors could not claim an exemption for the entire portion of their federal income tax refund that they attributed their child tax credit, the 6th Circuit has ruled in affirming judgment.
Debtors qualified for Ariz. bankruptcy exemption
Published: August 14, 2012
Tags: Chapter 7, exemption
Chapter 7 debtors qualified for a state exemption excluding from their bankruptcy estates certain life insurance policies and annuity contracts, the 9th Circuit has ruled in reversing judgment.
Bankruptcy trustee entitled to asset appreciation
Published: July 24, 2012
Tags: Chapter 7, exemption
The bankruptcy trustee was entitled to the post-petition appreciation in the value of estate assets that surpassed the amount of “wildcard” exemptions claimed by a Chapter 7 debtor, the 3rd Circuit has ruled in affirming judgment.
Debtor can claim federal bankruptcy exemptions
By:
Pat Murphy
Published: January 25, 2011
Tags: exemption
Florida’s “opt-out” statute did not apply to preclude a debtor from claiming federal bankruptcy exemptions after he move out of state, the 5th Circuit has ruled in affirming judgment.
Debtors may gain from Supreme Court loss
By:
Correy Stephenson
Published: June 24, 2010
Tags: CHAPTER 13, Chapter 7, exemption, NACBA, National Association of Consumer Bankruptcy Attorneys
A U.S. Supreme Court decision that went against a debtor last week may actually prove to be a boon for future consumer debtors.
Life insurance isn’t exempt in bankruptcy
By:
Pat Murphy
Published: June 21, 2010
Tags: exemption
A debtor couldn’t claim the proceeds of her husband’s life insurance policies as exempt property in her bankruptcy case, the 6th Circuit Bankruptcy Appellate Panel has ruled in reversing judgment.
Bankruptcy trustee can pursue undervalued assets
By:
Pat Murphy
Published: June 17, 2010
Tags: exemption
A bankruptcy trustee could seek to recover the amount by which a debtor undervalued personal property when she declared it exempt in her Chapter 7 case, the U.S. Supreme Court has ruled in a 6-3 decision.
