pre-filing exemption planning

Post Reply
Yahoo Bot
Posts: 22904
Joined: Sun Oct 18, 2020 11:38 pm


Also, remember that any sale has to be at fair market value or "reasonably
equivalent value" to keep the transfers from being avoidable under Section
548 or 544.
On Mon, Sep 18, 2017 at 12:36 PM, John Faucher j.d.faucher@sbcglobal.net
[cdcbaa] wrote:
>
>
> This sounds like wise pre-bankruptcy planning to me. Be sure to trace the
> money: how much was received, where it was deposited, what it was used for.
> Should not be a problem.
> - John D. Faucher
>
>
> On Monday, September 18, 2017 11:47 AM, "andyn013@yahoo.com [cdcbaa]" cdcbaa@yahoogroups.com> wrote:
>
>
>
> I have a PC who has some toys--boat, quads, etc, that would be unexempt in
> a 704 case. I would appreciate the group's thoughts and/or Trustee's
> possible perspective on if the PC were to sell the unexempt assets in the
> months leading up to the filing, how is this viewed, is this allowed? PC
> also has fallen behind on his mortgage and would use the sale proceeds to
> pay for his mortgage and living expenses? As these transactions would be
> listed on SOFA, would these transactions be within the bounds of allowable
> exemption planning? Thank you
>
> Andy Nguyen
> (909) 285-9333
>
>
>
>
WE DO NOT ACCEPT SERVICE BY EMAIL UNLESS WE HAVE AGREED TO ACCEPT IT IN
WRITING.
Giovanni Orantes, Esq.*
Orantes Law Firm, P.C.
3435 Wilshire Blvd. Suite 2920
Los Angeles, CA 90010
Tel: (213) 389-4362
Fax: (877) 789-5776
e-mail: go@gobklaw.com
website: www.gobklaw.com
**Certified Bankruptcy Specialist, State Bar of California, Board of Legal
Specialization*
*Board Certified - Business Bankruptcy Law - American Board of Certification
*Board Certified - Consumer Bankruptcy Law - American Board of Certification
Commercial Litigation
Estate Planning
Outside General Counsel
WE ARE A "DEBT RELIEF AGENCY" AS DEFINED BY FEDERAL LAW.
SERVING BAKERSFIELD, LOS ANGELES, ORANGE COUNTY, RIVERSIDE, SAN BERNARDINO
AND SANTA BARBARA AND THE WORLD FOR CHAPTER 11 AND 15 CASES.
Note: The information in this e-mail message is not intended to be legal
advice and should not be relied upon as legal advice unless counsel
expressly contracted in writing to provide such advice. Furthermore, the
information contained in this e-mail message is confidential information
intended only for the use of the individual or entity named. If the reader
of this message is not the intended recipient or an agent responsible for
delivering it to the intended recipient, you are hereby notified that any
dissemination, distribution or copy of this communication is strictly
prohibited. If you have received this communication in error, please
immediately notify us by telephone or e-mail and delete the original e-mail
Also, remember that any sale has to be at fair market value or "reasonably equivalent value" to keep the transfers from being avoidable under Section 548 or 544.On Mon, Sep 18, 2017 at 12:36 PM, John Faucher j.d.faucher@sbcglobal.net [cdcbaa] <cdcbaa@yahoogroups.com> wrote:

The post was migrated from Yahoo.
Yahoo Bot
Posts: 22904
Joined: Sun Oct 18, 2020 11:38 pm


This sounds like wise pre-bankruptcy planning to me. Be sure to trace the money: how much was received, where it was deposited, what it was used for. Should not be a problem.- John D. Faucher
On Monday, September 18, 2017 11:47 AM, "andyn013@yahoo.com [cdcbaa]" wrote:
I have a PC who has some toys--boat, quads, etc, that would be unexempt in a 704 case. I would appreciate the group's thoughts and/or Trustee's possible perspective on if the PC were to sell the unexempt assets in the months leading up to the filing, how is this viewed, is this allowed? PC also has fallen behind on his mortgage and would use the sale proceeds to pay for his mortgage and living expenses? As these transactions would be listed on SOFA, would these transactions be within the bounds of allowable exemption planning? Thank you

The post was migrated from Yahoo.
Post Reply