Some Questions After Clark v. Rameker

By William H. Brown, Adviser, Academy for Consumer Bankruptcy Education

In Clark v. Rameker, 134 S.Ct. 2242 (June 12, 2014), the Supreme Court held that an inherited IRA does not constitute a “retirement fund” within the meaning of 11 U.S.C. § 522(b)(3)(C). Since that Code section is identical to § 522(d)(12), inherited IRAs would not be exempt under the latter section either. Although the Court affirmed the Seventh Circuit’s decision, In re Clark, 714 F.3d 559 (2013), the unanimous opinion by Justice Sotomayor . . .

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The Untouchables – Starring Social Security Income

Nicole P. Novak

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In a recent opinion, an Ohio bankruptcy court joined the majority of other courts by holding the Code excludes Social Security Act (“SSA”) benefits from disposable income.i The issue was brought before the Court by the Chapter 13 Trustee’s objection to confirmation. The objection to confirmation asserted the Debtors failed to commit all disposable income to their plan and included...

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By John P. Gustafson, United States Bankruptcy Judge, Northern District of Ohio, Western Division (Toledo, OH) Click here for Part 1 Click here for Part 2 Click here for Part 3

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Meet Another Trustee

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Henry E. Hildebrand, III

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

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If you put your ear to the ground you may hear the rumblings regarding a change to Bankruptcy Rule 3002.1 requiring the institution of a mid-case bankruptcy audit. This mid-case audit would be like the Notice of Final Cure but would be performed by a trustee’s office in the middle of a pending Chapter 13, rather than at the end,...

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Analyzing the Troubled Chapter 13 During COVID19

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By Cathy Moran, Esq. (Redwood City, CA) After the pandemic, when the economy lurches back into motion, bankruptcy lawyers will confront a clutch of troubled Chapter 13 cases. In the face of disruption, distress, and the unknown, we'll be called on to guide clients forward, in one direction or another. Let's review the questions we'll need to answer in order...

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From the Editor

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By Wm. Houston Brown, United States Bankruptcy Judge (Retired) Confirmation - Trustee’s “double-dipping” objection to above-median confirmation denied. The trustee objected to confirmation based on above-median debtor deducting the IRS Local Standard housing deduction when the actual mortgage expense was on a marital residence owned by the debtor’s nonfiling spouse, while also claiming the marital adjustment for the spouse’s income...

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Special Counsel 101: Getting Paid and Protecting Clients

Nicole P. Novak

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The Bankruptcy Code imposes many duties on attorneys. One such duty requires attorneys to disclose compensation for services in contemplation of, or in connection with a bankruptcy case.1 Debtor attorneys know to disclose their fees at the start of the case. Attorneys that forget to timely file a compensation disclosure typically receive a gentle reminder to do so. However, in...

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