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Avoidance of Transfers
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yes, and no. Transfer to the retirement acct is okay provided that it is
fully tax deductible (i.e. within the allowable limits). Transfer to 529
account is subject to limitations specified in the Code - I don't know the
section number, but there is a specific provision on point.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
Cameron Totten
Sent: Monday, March 01, 2010 5:01 PM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] Avoidance of Transfers
I have a potential Chapter 13 client who recently put $5k into his
retirement account and another $5k into his daughters 529 college account.
Will these transfers be scrutinized by the Chapter 13 trustee? I couldnt
find anything in the treatise that I have that is directly on point.
Thanks.
Cameron H. Totten, Esq.
Law Offices of Cameron H. Totten
620 N. Brand Blvd., Suite 405
Glendale, CA 91203
(818) 483-5795
(818) 230-9817 (fax)
ctotten@ctottenlaw.com
http://ctottenlaw.com/
We are a federally designated Debt Relief Agency under the United States
Bankruptcy Laws. We assist people with finding solutions to their debt
problems, including, where appropriate, assisting with the filing of
petitions for relief under the Bankruptcy Code.
This e-mail and any files transmitted with it are confidential and are
intended solely for the use of the individual or entity to which they are
addressed. This communication may contain material protected by the
attorney-client privilege. If you are not the intended recipient or the
person responsible for delivering the e-mail to the intended recipient, be
advised that you have received this e-mail in error and that any use,
dissemination, forwarding, printing or copying of this email is strictly
prohibited. If you have received this e-mail in error, please immediately
notify me by telephone at (818) 483-5795. You will be reimbursed for
reasonable costs incurred in notifying me. Thank you.
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Message
yes, and no. Transfer
to the retirement acct is okay provided that it is fully tax deductible (i.e.
within the allowable limits). Transfer to 529 account is subject to
limitations specified in the Code - I don't know the section number, but there
is a specific provision on point.
David A.
Tilem
Certified Bankruptcy
Specialist*
The post was migrated from Yahoo.
You'll need to go directly to541(b)(6) andfollow the dates, etc., in the statue.
Law Office of Peter M. Lively * Personal Financial Law Center I
11268 Washington Blvd, Suite 203, Culver City, CA 90230-4647
Telephone: (310)391-2400 * (800)307-3328 * Fax: (310)391-2462
A-Bankruptcy-Attorney.com
Personal Financial Law Center II
1706-B Newport Boulevard, Costa Mesa, CA 92627-3073
Telephone: (949)650-3328
THIS MESSAGE IS INTENDED ONLY FOR THE USE OF THE INDIVIDUAL OR ENTITY TO WHICH IT IS ADDRESSED, AND MAY CONTAIN INFORMATION THAT IS PRIVILEGED, CONFIDENTIAL AND EXEMPT FROM DISCLOSURE UNDER APPLICABLE LAW. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT, OR THE EMPLOYEE OR AGENT RESPONSIBLE FOR DELIVERING THE MESSAGE TO THE INTENDED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATION, DISTRIBUTION OR COPYING OF THIS COMMUNICATION IS STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY BY E-MAIL OR BY TELEPHONE. THANK YOU.
________________________________
To: cdcbaa@yahoogroups.com
Sent: Mon, March 1, 2010 5:01:24 PM
Subject: [cdcbaa] Avoidance of Transfers
I have a potential Chapter 13 client who recently put $5k into his retirement account and another $5k into his daughters 529 college account. I couldnt find anything in the treatise that I have that is directly on point. Thanks.
Cameron H. Totten, Esq.
Law Offices of Cameron H. Totten
620 N. Brand Blvd., Suite 405
Glendale, CA 91203
(818) 483-5795
(818) 230-9817 (fax)
ctotten@ctottenlaw. com
http://ctottenlaw. com/
We are a federally designated Debt Relief Agency under the United States Bankruptcy Laws. We assist people with finding solutions to their debt problems, including, where appropriate, assisting with the filing of petitions for relief under the Bankruptcy Code.
This e-mail and any files transmitted with it are confidential and are intended solely for the use of the individual or entity to which they are addressed. This communication may contain material protected by the attorney-client privilege. If you are not the intended recipient or the person responsible for delivering the e-mail to the intended recipient, be advised that you have received this e-mail in error and that any use, dissemination, forwarding, printing or copying of this email is strictly prohibited. If you have received this e-mail in error, please immediately notify me by telephone at (818) 483-5795. You will be reimbursed for reasonable costs incurred in notifying me. Thank you.
You'll need to go directly to 541(b)(6) and follow the dates, etc., in the statue. Peter M. Lively, JD/MBALaw Office of Peter M. Lively * Personal Financial Law Center I11268 Washington Blvd, Suite 203, Culver City, CA 90230-4647Telephone: (310)391-2400 * (800)307-3328 * Fax: (310)391-2462 A-Bankruptcy-Attorney.com
Personal Financial Law Center II1706-B Newport Boulevard, Costa Mesa, CA 92627-3073Telephone: (949)650-3328
THIS MESSAGE IS INTENDED ONLY FOR THE USE OF THE INDIVIDUAL OR ENTITY TO WHICH IT IS ADDRESSED, AND MAY CONTAIN INFORMATION THAT IS PRIVILEGED, CONFIDENTIAL AND EXEMPT FROM DISCLOSURE UNDER APPLICABLE LAW. IF THE READER OF THIS MESSAGE IS NOT THE INTENDED RECIPIENT, OR THE EMPLOYEE OR AGENT RESPONSIBLE FOR DELIVERING THE MESSAGE TO THE INTENDED RECIPIENT, YOU ARE HEREBY NOTIFIED THAT ANY DISSEMINATION, DISTRIBUTION OR COPYING OF THIS COMMUNICATION IS STRICTLY PROHIBITED. IF YOU HAVE RECEIVED THIS COMMUNICATION IN ERROR, PLEASE NOTIFY US IMMEDIATELY BY E-MAIL OR BY TELEPHONE. THANK YOU.
From: Cameron Totten <tottenlaw@sbcglobal.net>To: cdcbaa@yahoogroups.comSent: Mon, March 1, 2010 5:01:24 PMSubject: [cdcbaa] Avoidance of Transfers
I have a potential Chapter 13 client who recently put $5k into his retirement account and another $5k into his daughters 529 college account. Will these transfers be scrutinized by the Chapter 13 trustee? I couldnt find anything in the treatise that I have that is directly on point. Thanks.
Cameron H. Totten, Esq.Law Offices of Cameron H. Totten620 N. Brand Blvd., Suite 405
Glendale, CA 91203
(818) 483-5795(818) 230-9817 (fax)
ctotten@ctottenlaw. comhttp://ctottenlaw. com/
We are a federally designated Debt Relief Agency under the United States Bankruptcy Laws. We assist people with finding solutions to their debt problems, including, where appropriate, assisting with the filing of petitions for relief under the Bankruptcy Code.
---------
This e-mail and any files transmitted with it are confidential and are intended solely for the use of the individual or entity to which they are addressed. This communication may contain material protected by the attorney-client privilege. If you are not the intended recipient or the person responsible for delivering the e-mail to the intended recipient, be advised that you have received this e-mail in error and that any use, dissemination, forwarding, printing or copying of this email is strictly prohibited. If you have received this e-mail in error, please immediately notify me by telephone at (818) 483-5795. You will be reimbursed for reasonable costs incurred in notifying me. Thank you.
The post was migrated from Yahoo.
I have a potential Chapter 13 client who recently put $5k into his
retirement account and another $5k into his daughter's 529 college account.
Will these transfers be scrutinized by the Chapter 13 trustee? I couldn't
find anything in the treatise that I have that is directly on point.
Thanks.
Cameron H. Totten, Esq.
Law Offices of Cameron H. Totten
620 N. Brand Blvd., Suite 405
Glendale, CA 91203
(818) 483-5795
(818) 230-9817 (fax)
ctotten@ctottenlaw.com
http://ctottenlaw.com/
We are a federally designated Debt Relief Agency under the United States
Bankruptcy Laws. We assist people with finding solutions to their debt
problems, including, where appropriate, assisting with the filing of
petitions for relief under the Bankruptcy Code.
This e-mail and any files transmitted with it are confidential and are
intended solely for the use of the individual or entity to which they are
addressed. This communication may contain material protected by the
attorney-client privilege. If you are not the intended recipient or the
person responsible for delivering the e-mail to the intended recipient, be
advised that you have received this e-mail in error and that any use,
dissemination, forwarding, printing or copying of this email is strictly
prohibited. If you have received this e-mail in error, please immediately
notify me by telephone at (818) 483-5795. You will be reimbursed for
reasonable costs incurred in notifying me. Thank you.
I have a potential Chapter 13 client who recently put $5k
into his retirement account and another $5k into his daughter’s 529
college account. Will these transfers be scrutinized by the Chapter 13
trustee? I couldn’t find anything in the treatise that I have that is
directly on point. Thanks.
Cameron H. Totten, Esq.
Law Offices of Cameron H. Totten
620 N. Brand Blvd., Suite 405
Glendale, CA 91203
(818)
483-5795
(818) 230-9817 (fax)
ctotten@ctottenlaw.com
http://ctottenlaw.com/
We
are a federally designated Debt Relief Agency under the United States
Bankruptcy Laws. We assist people with finding solutions to their debt
problems, including, where appropriate, assisting with the filing of petitions
for relief under the Bankruptcy Code.
---------
This e-mail and any files
transmitted with it are confidential and are intended solely for the use of the
individual or entity to which they are addressed. This communication may
contain material protected by the attorney-client privilege. If you are not the
intended recipient or the person responsible for delivering the e-mail to the
intended recipient, be advised that you have received this e-mail in error and
that any use, dissemination, forwarding, printing or copying of this email is
strictly prohibited. If you have received this e-mail in error, please
immediately notify me by telephone at (818) 483-5795. You will be reimbursed
for reasonable costs incurred in notifying me. Thank you.
The post was migrated from Yahoo.