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§ 522(d)(12)

In re Rice

Ruling
Debtor who did not read schedules could not amend as failure to include exemptions was not unintentional.
Procedural posture

A Chapter 7 debtor filed an amended Schedule C in which he claimed an exemption for a cashier's check for retirement funds in the amount of $95,000 and for garnished retirement funds in the amount of $18,807 under 11 U.S.C.S. § 522(d)(12). The trustee filed an objection to the debtor's amended claim of exemptions.

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Consumer opinion summary, case decided on August 02, 2011 , LexisNexis #0811-116

Doeling v. Nessa (In re Nessa)

Ruling
Exemption in inherited IRA affirmed.
Procedural posture

Appellant, the bankruptcy trustee for appellee debtor's estate, challenged an order of the Bankruptcy Court for the District of Minnesota, that overruled his objection to her claim of an exemption from estate property of an inherited individual retirement account (IRA), pursuant to 11 U.S.C.S. § 522(d)(12).

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Court :
Judge or Jurisdiction information not available
Consumer opinion summary, case decided on April 09, 2010 , LexisNexis #0610-086

In re Chilton

Ruling
Debtor could not claim exemption in inherited IRA.
Procedural posture

A bankruptcy debtor inherited an individual retirement account (IRA) from the debtor's deceased parent prior to the debtor's bankruptcy, and the debtor claimed an exemption in the property pursuant to 11 U.S.C.S. § 522(d)(12) as retirement funds in an account which was exempt from taxation. The bankruptcy trustee objected to the exemption.

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Consumer opinion summary, case decided on March 05, 2010 , LexisNexis #0610-049