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Supreme Court Rules That Inherited IRAs Not Exempt
In a defeat for debtors in bankruptcy, the Supreme Court ruled yesterday that a debtor filing for bankruptcy cannot claim an exemption in an inherited IRA as “retirement funds” under 11 U.S.C. §§522(b)(3)(C) and (d)(12). This case resolved a circuit…
Federal Exemptions Now Available in Oregon
On July 1, 2013, Governor Kitzhaber signed Senate Bill 396 which now allows Oregon residents to use federal exemptions when filing for bankruptcy. Previously, Oregon residents were limited to exemptions provided for under Oregon law As discussed on our web…
Federal Exemptions Coming to Oregon?
As discussed in one of our previous blog posts, debtors in bankruptcy are able to “exempt” certain property up to a particular dollar value. This means that a Chapter 7 Trustee is not entitled to take any property from a…MORE