The “Snapshot” Rule – Part 1: The Circuits Begin to Line Up

By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN)

Exemptions are determined at the time the debtor files for bankruptcy. … This maxim is called the "snapshot" rule because the debtor's financial situation is frozen in time, as if someone had taken a snapshot of it.1

Recent Caselaw

The First and Ninth Circuits

On March 1, the Ninth Circuit in In re . . .

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