- 11 U.S.C.
Diamond v. Trawick (In re Trawick)
Aug
29
2013
Ruling
Trust with valid spendthrift provision was not property of the estate.
Issue(s)
Was debtor's wife's interest in a trust with a spendthrift provision subject to turnover.
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Court
:
- 11 U.S.C.
Murphy v. Felice (In re Felice)
Jun
12
2013
Ruling
Debtor's interest in family trust with spendthrift clause was not property of the estate.
Procedural posture
Defendant chapter 7 debtor filed a motion for determination that his beneficial interest in a family trust, which owned certain real property, was not property of the bankruptcy estate by virtue of a spendthrift clause. Plaintiff chapter 7 trustee filed a motion for summary judgment that argued that the spendthrift clause in the trust was unenforceable as to the debtor's creditors under Massachusetts law because the trust was self-settled.
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Court
:
- 11 U.S.C.
In re Banick
Feb
25
2013
Ruling
Debtor's equitable interest in former spouse's retirement plan was not property of the estate.
Procedural posture
Chapter 7 trustee objected to an exemption the debtor claimed in her interest in her ex-husband's retirement plans.
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Court
:
- 11 U.S.C.
In re Rowand
Jul
30
2012
Ruling
Debtor's beneficiary interest in spendthrift trust was not property of the estate.
Procedural posture
Chapter 7 trustee moved for an order designating him as beneficiary of two spendthrift family trusts in place of the debtor. The issue was whether debtor's interest as a beneficiary under the trusts created by her parents constituted property of her bankruptcy estate.
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Court
:
- 11 U.S.C.
Novak v. Drake (In re Drake)
Mar
30
2012
Ruling
Insurance annuity that was a structured settlement rather than spendthrift trust was property of the estate.
Procedural posture
Plaintiff chapter 7 trustee and defendant debtor filed motions for summary judgment in the trustee's action, which sought pursuant to 11 U.S.C. § 542 and § 543 to recover for the benefit of the bankruptcy estate monthly payments due to the debtor as beneficiary under an annuity contract issued by defendant insurance company.
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Court
:
- 11 U.S.C.
In re Vazquez
Feb
23
2012
Ruling
Property held in debtor's self-settled trust was property of the estate and could be exempted.
Procedural posture
A chapter 7 debtor claimed legal title to and an exemption in certain real property. The Trustee objected on the ground that the property had been transferred to a trust.
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Court
:
- 11 U.S.C.
In re Jokiel
Apr
21
2011
Ruling
Executive retirement plan that was not an ERISA qualified plan and not intended in good faith to qualify under the Internal Revenue Code was property of the estate.
Procedural posture
Debtor filed a petition under chapter 7 and claimed that money he had in an executive retirement plan was not part of his bankruptcy estate under 11 U.S.C.S. § 541(c)(2) because the plan was subject to a valid anti-alienation clause, and was exempt under 735 ILCS 5/12-1006 from creditors' claims. The debtor's former employer filed an objection to the claim, and the bankruptcy trustee joined that objection.
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Court
:
- 11 U.S.C.
In re Quaid
Jan
26
2011
Ruling
Amounts transferred by debtor from bank account held by the entireties with spouse to trust was property of the estate.
Procedural posture
Debtor filed a petition under chapter 7 and claimed that his interest in a trust was exempt from creditors' claims, pursuant to 11 U.S.C.S. § 541(c)(2). Several creditors filed an objection to the debtor's claim.
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Court
:
- 11 U.S.C.
Malloy v. Morrison (In re Morrison)
Nov
16
2010
Ruling
Trust was not a valid spendthrift trust and was property of the estate where debtor beneficiary could obtain funds on demand.
Procedural posture
Chapter 7 trustee filed this adversary proceeding against defendant debtors claiming trust funds in a certain trust ("the Trust") as property of the estate. Debtors answered, claiming that the spendthrift provisions contained in the Trust removed the trust funds from the bankruptcy estate, thus placing them outside of the trustee's grasp.
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Court
:
- 11 U.S.C.
In re Spector
Oct
26
2010
Ruling
Valid spendthrift trust was excluded from debtor's estate.
Procedural posture
A Chapter 7 trustee objected to a debtor's claim of an exemption. The debtor argued that her interest in a deferred payment gift annuity agreement was excluded from her bankruptcy estate under 11 U.S.C.S. § 541(c)(2). The trustee objected to the exemption.
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Court
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