§ 522(d)(10)(E)

Foellmi v. Ries (In re Foellmi)

A chapter 7 debtor claimed an exemption under Minn. Stat. § 550.37, subd. 24, for limited partnership units she received from her employer. The United States Bankruptcy Court for the District of Minnesota denied the claim of exemption. The debtor appealed.
Ruling: 
Debtor could claim exemption in interests in limited partnership distributed by employee benefit plan.
ABI Membership is required to access the full summary of Foellmi v. Ries (In re Foellmi). Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on July 31,2012, LexisNexis #0812-078

In re Butler

Debtor filed a petition under chapter 7 of the Bankruptcy Code and claimed that money she invested in a partnership that was available to individuals who worked for her employer was exempt from creditors' claims under 11 U.S.C.S. § 522(d)(10)(E). A trustee who was appointed to administer the debtor's bankruptcy estate filed an objection.
Ruling: 
Debtor's interest in partnership established by employer for employees was exempt.
ABI Membership is required to access the full summary of In re Butler. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on May 29,2012, LexisNexis #0612-087

In re Crum

A debtor filed for relief under chapter 7 of the Bankruptcy Code. The debtor claimed exemptions in three bank accounts totalling $254,902, $38,080, and $79 respectively and a claimed exemption in $11,000 conveyed to a third party pre-petition. A creditor and a chapter 7 trustee objected to the claimed exemptions.
Ruling: 
Non-IRA account containing proceeds of two IRA accounts was not exempt.
ABI Membership is required to access the full summary of In re Crum. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on February 20,2009, LexisNexis #0409-005

In re Krebs

Appellee chapter 7 trustee filed an objection in bankruptcy court to appellant debtor's request for exemption of an individual retirement account (IRA) under 11 U.S.C.S. § 522(d)(10)(E). The bankruptcy court sustained the objection, and the District Court for the Western District of Pennsylvania affirmed. The debtor appealed.
Ruling: 
Debtor's IRA could potentially be exempted although withdrawals could not yet be made without penalty.
ABI Membership is required to access the full summary of In re Krebs. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on May 19,2008, LexisNexis #0608-061

Walsh v. Benson (In re Benson)

The matter was before the court following remand by the district court, which concluded that the court erred as a matter of law in sustaining the trustee's objections to exemptions respondent debtors had taken in portions of their respective individual retirement accounts (IRAs) in accordance with 11 U.S.C. § 522(d)(10)(E).
Ruling: 
IRA exemption disallowed to the extent funds were not reasonably necessary to support debtor and spouse.
ABI Membership is required to access the full summary of Walsh v. Benson (In re Benson). Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member

Walsh v. McMurry

Appellee bankruptcy trustee objected when appellant chapter 7 debtor claimed an exemption from the bankruptcy estate for his entire individual retirement account ("IRA"). The debtor appealed after the bankruptcy court sustained the objection and ruled that a portion of his IRA was not exempt under 11 U.S.C. § 522(d)(10)(E).
Ruling: 
Case remanded to bankruptcy court for determination as to whether IRA was reasonably necessary to support debtor and family and therefore partially exempt.
ABI Membership is required to access the full summary of Walsh v. McMurry. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member

Walsh v. Benson

Appellant debtor appealed the opinion and order of the bankruptcy court which held that the debtor's Individual Retirement Account ("IRA") was neither excluded from the bankruptcy estate under 11 U.S.C. § 541(c)(2) nor exempt under 11 U.S.C. § 522(d)(10)(E). Appellee trustee opposed the appeal.
Ruling: 
Bankruptcy court erred in concluding that IRA was not eligible for exemption.
ABI Membership is required to access the full summary of Walsh v. Benson. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Subscribe to § 522(d)(10)(E)