From the Editor

From the Editor – Property of Estate and Exemptions

By The Honorable William Houston Brown (Retired)

Spendthrift trust was invalid under state law. Analyzing § 541(c)(2), the Chapter 7 debtor’s interest in a spendthrift trust was property of the estate and could be administered by the trustee. The provisions of the trust were found to be unenforceable as a violation of public policy under Michigan law. Kohut v. Lewiston Living Trust (In re Lewiston), B.R., 2015 WL 3894609 (Bankr. E.D. Mich. June 24, 2015).

________________________________

The Honorable William Houston Brown retired in 2006 as a United States Bankruptcy Judge . . .

It looks like you are not signed in or registered! This content is only available to members.

Or Sign In Below:

No Author Biography has been linked to this Article.

Critical Case Comment – Don’t File a Individual Chapter 13 If the Assets Are Owned by an LLC; It Will Cost You – BIG

Henry E. Hildebrand, III

September 25, 2022

Where a debtor and debtor’s counsel initiated a Chapter 13 petition in an effort to halt a foreclosure against property held by the debtor’s LLC, and where the debtor took no steps to correct the filing, sanctions would be imposed against debtor’s counsel. (Grabill) In re Scaccia, 2022 WL 1216284 (Bankr. E.D. La. April 25, 2022) Case Summary Scaccia owned...

Members

Tax Projections and the Means Test – Parts I and II

Cathy Moran

December 17, 2023

Part I discusses projecting income tax deductions on the means test when the year of filing situation looks much like last year. Part II looks at things when they aren’t the same year over year.

Members

What the FICO? Reaffirming Doesn’t Help My Credit Score?

May 23, 2021

By The Honorable John P. Gustafson, United States Bankruptcy Judge, Northern District of Ohio (Toledo) Reaffirmation hearings during the pandemic have been difficult, at least for me. The economic risks for debtors are greater. There are uncertainties about the availability of credit, and the availability of suitable vehicles. Prices of used cars have gone up – with stimulus money pushing...

Members

Small Business Reorganization Act…(“SBRA”) H.R. 3311 – PART ONE

September 15, 2019

By Jan Hamilton, Chapter 13 Standing Trustee (Topeka, KS) “I do not suggest my thoughts here are anywhere close to exhaustive. . . . Of course, my thoughts may be off mark on one or more items, but the discussions need to start somewhere, so here we go…” See also: 2019 Legislation Affecting Bankruptcy Practice – Overview

Members

Critical Case Comment – Pay the TAXES!

Henry E. Hildebrand, III

July 10, 2022

Failure of Chapter 13 debtors to satisfy post-petition property tax payments to the county, specifically required in the debtors’ Chapter 13 plan, renders the debtors ineligible for a discharge, even where the debtors proposed a loan modification to repay the mortgage creditor which had advanced the post-petition taxes. (Rodriguez) In re Villarreal, 2022 WL 1102223 (Bankr. S.D. Tex. April 12,...

Members

Word to the Wise: Failure to Properly Notice a Creditor Is Bad!

M. Jonathan Hayes

April 7, 2024

When the debtor fails to properly schedule a creditor in an asset case, is the now non-dischargeable debt under § 523(a)(3) limited to the amount the creditor would have received had it filed a proof of claim?

Members

Hanging Paragraph, Cars for Non-Personal Use, and PMSI

November 3, 2019

By Gretchen Holland, Standing Chapter 13 Trustee for the Greenville/Spartanburg Division of South Carolina The hanging paragraph of § 1325(a)(9) prevents bifurcation of a PMSI claim if the collateral securing it was purchased within certain time periods prepetition. A 910-day limitation applies to motor vehicles acquired for the debtor’s personal use. A one-year limitation applies to all other PMSI collateral,...

Members

March 24, 2019

By Wm. Houston Brown, United States Bankruptcy Judge (Retired) Discharge - Section 523(a)(8)(A)(ii) does not include “loan.” Denying Navient’s motion to dismiss debtors’ complaint, reviewing the split of authority on whether § 523(a)(8)(A)(ii)’s “educational benefit” included loans, and finding no controlling authority in the Tenth Circuit, the Court concluded that Congress made a distinction between “loan” in § 523(a)(8)(A)(i) and...

Members

IRS Updates Guidance for Deductible Business, Charitable, Medical and Moving Expenses

November 17, 2019

11/14/19, the IRS issued guidance for taxpayers with certain deductible expenses to reflect changes resulting from the Tax Cuts and Jobs Act (TCJA). Revenue Procedure 2019-46, posted today on IRS.gov, updates the rules for using the optional standard mileage rates in computing the deductible costs of operating an automobile for business, charitable, medical or moving expense purposes. The guidance also...

Two More Things Trustees Should Know About the Small Business Reorganization Act of 2019

October 27, 2019

By Lawrence R. Ahern, III, Brown & Ahern (Nashville, TN) Part IV Two More Things Trustees Should Know About the Small Business Reorganization Act of 2019 Introduction Four bankruptcy-related bills were enacted during the 116th Congress and signed into law on August 23, 2019.1 The legislation affected both business and consumer cases. One bill, the Small Business Reorganization Act of...

Members

From the Editor – Property of Estate and Exemptions

Link to Post:

It looks like you are not signed in or registered! This content is only available to members.

Or Sign In Below:

Related Articles

Critical Case Comment – Don’t File a Individual Chapter 13 If the Assets Are Owned by an LLC; It Will Cost You – BIG

Tax Projections and the Means Test – Parts I and II

What the FICO? Reaffirming Doesn’t Help My Credit Score?

Small Business Reorganization Act…(“SBRA”) H.R. 3311 – PART ONE

Critical Case Comment – Pay the TAXES!

Word to the Wise: Failure to Properly Notice a Creditor Is Bad!

Hanging Paragraph, Cars for Non-Personal Use, and PMSI

From the Editor

IRS Updates Guidance for Deductible Business, Charitable, Medical and Moving Expenses

Two More Things Trustees Should Know About the Small Business Reorganization Act of 2019

Academy

Members

Website

Legal

Looking to Become a Member?

Webinars

Member Articles

Industry News

To get started, please let us know which of these best fits your current position: