From the Editor

From the Editor – Property of Estate and Exemptions

By The Honorable William Houston Brown (Retired)

Debtor-husband not entitled to wildcard exemption in inheritance of debtor-wife. The Chapter 7 debtor-husband had no separate property interest in an inheritance received by his debtor-wife, rejecting the argument that the husband had an exemptible property interest based on equitable distribution rights that could be asserted in an unfiled divorce proceeding or probate. Under the majority view, “a spouse has no present property interest in the separate property of the other spouse unless and until the contingency occurs.” Moreover, § 541(a)(5) defines property of . . .

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ABI Commission on Consumer Bankruptcy – What Does It Mean to Surrender?

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By Henry E. Hildebrand, III, Chapter 13 Standing Trustee (Nashville, TN) One of the most confusing elements in consumer bankruptcy practice is the effect of electing the option given in § 1325(a)(5)(C) or § 521(a)(2). Section 521(a)(2) requires every debtor to file a statement of intent that indicates whether the debtor intends to “surrender or retain” estate property which secured...

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“We’re confronted with a dilemma: if we pay practitioners fairly,we price ourselves out of reach of the very individuals we hope to help.”

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I was the third attorney on this lien avoidance matter. Instead of it being “third time’s the charm”, it came close to being “three strikes and you’re out.” All because of FRBP 7041. This was the set up: debtor’s original counsel filed a number of lien avoidance actions, including the one against a landlord with a large default judgment. The...

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National Guard and Reservists Debt Relief Extension Act of 2023

The Academy

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The National Guard and Reservists Debt Relief Extension Act of 2023 (H.R. 3315) enacted on December 19, 2023 extends for an additional four years the existing exemption from the means test for qualifying reservists and National Guard debtors who are called to active duty or to perform a homeland defense activity for not less than 90 days. See 11 U.S.C. § 707(b)(2)(D)(i). A debtor...

From the Editor

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The Hanging Paragraph – Hanging on Every Word Part 2 of 4

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Henry E. Hildebrand, III

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From the Editor – Property of Estate and Exemptions

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Related Articles

ABI Commission on Consumer Bankruptcy – What Does It Mean to Surrender?

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