The CARES Act, Public Law 116-136 had amended several parts of the Bankruptcy Code, but included sunset provisions terminating March 27, 2021. The COVID-19 Bankruptcy Relief Extension Act of 2021, H.R.1651, passed by the House and Senate and signed by the President on March 27, 2021, extended some provisions for another year. Section 1113 of the CARES Act had amended...
From the Editor – Property of Estate and Exemptions
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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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