From the Editor – Property of Estate and Exemptions • NACTT Academy

From the Editor – Property of Estate and Exemptions

By The Honorable William Houston Brown (Retired)

No stay relief to execute on inherited IRA when no objection had been filed to exemption. Creditors holding judgment for nondischargeability moved for stay relief to execute on assets, including an IRA inherited from the debtor’s father, arguing that Clark v. Rameker held that such an IRA was not exempt under § 522(d)(12) as claimed by the debtor. However, there had been no objection to the allowance of the exemption; “thus, whether or not the exemption was permissible, even when initially claimed, is inconsequential to . . .

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