Do I Really Have to Tell the Trustee About Newly Acquired Assets?

It has long been a vexing question for Trustees and attorneys alike: do Debtors have to disclose assets acquired post-petition? In a lengthy and well-documented opinion, Chief Bankruptcy Court Judge John Waites of South Carolina has presented his take on this issue and concluded, with some important exceptions, that they do not. The case is In re Thomas L. Boyd, Bankr. S.C., #13-02924-JW (7/17/20 opinion).

The Debtor filed his Chapter 13 case in May, 2013. In July, 2018, while still in Chapter 13, he suffered injuries from an . . .

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Herbert L. Beskin

Chapter 13 Standing Trustee for the Western District of Virginia (Retired) (Charlottesville)

Herbert L. Beskin practiced consumer bankruptcy law for 25 years in Charlottesville before being appointed a Chapter 13 Bankruptcy Trustee for the Western District of Virginia in 2003. He has been a Virginia CLE lecturer since 1993, has written articles for The Virginia Lawyer and The NACTT Academy’s website ConsiderChapter13.org, and has taught law related courses at both the University of Virginia and Piedmont Virginia Community College. From 1991 to 1997 he served on the Board of Governors of the Bankruptcy Law Section of the Virginia State Bar. He has co-authored two chapters of the Virginia CLE publication Bankruptcy Practice in Virginia: Chapter 7 practice in the 1st edition with Douglas Little, and Chapter 13 practice in the 2nd and 3rd editions with Judge Rebecca Connelly. Herb retired in 2023.

From 5 Divisions to 4 Grandchildren, 3+ pets, 2 Hobbies and 1 Private Practice: The “Retirement” of Robert Wilson

Katherine L. Davis

March 20, 2022

“The trouble with retirement is that you never get a day off!” [Abe Lemons] There is no better way to describe Robert Wilson in his career as an attorney, as a trustee, in his life thus far, and surely in his retirement! He has filled and will continue to fill every second of every day with meaning and purpose and...

Money For Nothing

Pam Bassel

April 28, 2024

It is appropriate that the title of this article is based on the lyrics from Dire Straits’ biggest hit, since that is where many below-median debtors find themselves – in dire straits.

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What Are You Waiting For? The Bankruptcy Filing Timeline

Cathy Moran

June 7, 2026

More than just a question. Once again Cathy offers new and seasoned attorneys a “gotta keep this one” resource on statutes that refer to numbers of days.

Members

The Effect of “Success” (or the Lack of It) on Attorneys’ Fees Part 2: In re Village Apothecary, Inc.

Lawrence R. Ahern, III

October 2, 2022

Introduction In In re Village Apothecary, Inc.,1 the Sixth Circuit recently cut an attorney's fee by half, where the services were not successful. The panel held that the results obtained (or, actually, the lack of results) justified the dramatic reduction of the fees of attorneys for a Chapter 7 trustee. In Part 1, we looked at . . . It...

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Minding the Post-Confirmation Gate: Creditors Gotta’ Get It Right the First Time

Henry E. Hildebrand, III

June 16, 2024

Although it is easy for a consumer practitioner to skim over decisions relating to Chapter 11, occasionally, a Chapter 11 decision requires attention. This is particularly true when the decision is issued by a Circuit Court of Appeals. Here, compelling circumstances must be demonstrated to justify a post-confirmation amendment to a proof of claim.

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Reflections from Boston

Dynele Schinker-Kuharich

July 14, 2024

“Attending the NACTT Annual Seminar provided the opportunity to catch up with Chapter 13 colleagues from around the country who are quickly becoming good friends; and to build relationships with colleagues who have recently joined our niche’ of the bankruptcy field.”

“Hey Judge, I Got a Story! AND the Money! Let Me Back into Chapter 13!” – Reinstating Dismissed Cases with FRBP 9024

Jeffrey Bruzek

May 11, 2025

In his indubitable yet fun style, Attorney Bruzek, brings subscribers a resource to flag for later reference.

Members

What’s Growing in Your Case? A Petri Dish Lesson on Priority Tax Debt

Kara K. Gendron

April 26, 2026

“When trustees and practitioners actively monitor tax claims, outcomes improve.”

Members

Thinking About the “Two-Dismissal Rule”

M. Jonathan Hayes

November 3, 2024

“I had a profound thought - what in the world is the two-dismissal rule? I guess the 9th Circuit wondered the same thing because it affirmed . . . bankruptcy court’s dismissal of a debtor’s declaratory relief complaint against a bank on the basis that the debtor had previously filed three other cases and then voluntarily dismissed them.”

From the Editor – Confirmation

March 8, 2020

By The Honorable William Houston Brown (Retired) Equal monthly payments and attorney fees. The secured creditor objected to confirmation on basis that the plan improperly deferred its payments until debtor’s attorney fees were paid, and the District Court affirmed confirmation that delayed start of secured equal monthly payments for 21 months. The opinion examines three approaches to the issue: 1)...

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Do I Really Have to Tell the Trustee About Newly Acquired Assets?

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Herbert L. Beskin

Chapter 13 Standing Trustee for the Western District of Virginia (Retired) (Charlottesville)

Related Articles

From 5 Divisions to 4 Grandchildren, 3+ pets, 2 Hobbies and 1 Private Practice: The “Retirement” of Robert Wilson

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