Bankr. No.:
04-40692
Chapter:
7
Date of Decision:
December 1, 2004
Issue:
Case trustee objected to Debtors’ claimed exemption regarding a contingent remainder interest in a spendthrift trust. Per the Court’s direction, the first issue presented was whether the debtor’s interest in the trust was a bankruptcy estate asset.
Ruling:
The Court concluded the debtor’s interest in the spendthrift trust did not constitute property of the bankruptcy estate under § 541(c)(2), thus Debtors did not need to exempt it from the estate. The trustee’s objection was overruled.
Full Bankruptcy Court Decision:
