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§ 522(b)(3)(C)

In re Daley

Oct
11
2011
Ruling
Funds in IRA involved in prohibited transaction were not exempt.
Procedural posture

Debtor filed a petition under Chapter 7 of the Bankruptcy Code, and a trustee was appointed to administer the debtor's bankruptcy estate. The trustee filed an objection to the debtor's claim that $61,646 he had in an individual retirement account ("IRA") was exempt from creditors' claims under Tenn. Code Ann. § 26-2-105(b) and 11 U.S.C.S. § 522(b)(3)(C).

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Consumer opinion summary, case decided on October 11, 2011 , LexisNexis #1111-009
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In re Garvey

Sep
28
2011
Ruling
Funding source did not affect debtor's IRA exemption.
Procedural posture

A bankruptcy debtor claimed exemptions in tax-exempt individual retirement accounts (IRAs) pursuant to 11 U.S.C.S. § 522(b)(3)(C), the bankruptcy trustee objected to the exemptions.

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Consumer opinion summary, case decided on September 28, 2011 , LexisNexis #1111-078
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In re Clark

May
10
2011
Ruling
Debtors not entitled to exemption in inherited IRA account.
Procedural posture

Chapter 7 debtors, a husband and wife, claimed an inherited IRA as exempt under Wis. Stat. § 815.18(3)(j) and 11 U.S.C.S. § 522(b)(3)(C). The trustee and judgment creditors objected to that claim.

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Consumer opinion summary, case decided on May 10, 2011 , LexisNexis #0611-081
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In re George

Dec
20
2010
Ruling
Debtor who had not resided in filing state for 730 days and could not claim exemptions in state of former domicile could claim federal exemptions.
Procedural posture

A Chapter 7 Wisconsin debtor selected the federal exemptions to exempt her property. The trustee objected, claiming that she was limited to the Illinois state exemptions, under which one of her vehicles would not be exempt, arguing that the debtor had not lived in Wisconsin long enough to utilize the exemptions available to Wisconsin residents, and Illinois had opted out of the federal exemptions.

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Consumer opinion summary, case decided on December 20, 2010 , LexisNexis #0111-078
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