Showing 11 posts from 2012.
January 19, 2012
Funds must be in tax exempt retirement account – not merely traceable to a retirement account – on filing date to qualify for § 522(d)(12) exemption.
In re Pellegrini, Bankr. W.D. Mich., Case No. 09-90464, Hon. James D. Gregg (Jan. 17, 2012).
When Congress adopted BAPCPA, it added an exemption for "[r]etirement funds to the extent that those funds are in a fund or account that is exempt from taxation" under certain provisions of the Internal Revenue Code. 11 U.S.C. § 522(d)(12). Although broader than the exemption previously available for retirement funds, § 522(d)(12) is not limitless – as the Bankruptcy Court for the Western District of Michigan recently emphasized. Read More ›
Categories: Chapter 7, Western District of Michigan
Posted by: Laura J. Genovich
| Contact Author
Share
Categories
- Estate Planning
- Fraud & Abuse
- Property Tax
- Eastern District of Michigan
- Case Law Updates
- Did you Know?
- Chapter 7
- Zoning & Land Use
- Chapter 13
- Chapter 11
- 6th Circuit Court of Appeals
- Billing/Payment
- Western District of Michigan
- Alerts and Updates
- Collections
- U.S. Supreme Court
- Financing
- Landlord-Tenant
- Personal Property Tax