Bankruptcy: A Disruption in the Force – PART 2 of 2

By Cathleen Cooper Moran, Moran Law Group, Mountain View, CA

click here for Part 1

(continued)

III. Exemptions

The debtor’s ability to remove property from the bankruptcy estate with the use of exemptions is the third statutory force that impacts spouses and ex-spouses.

While (nearly) everything the debtor has comes into the estate, some part of those assets exit the estate by the operation of exemptions. §522. Exemptions define the quantum of value in assets that is beyond the reach of the . . .

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