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Chapter 13: do retirement funds (IRA/401K) lose exempt status if
Section 1306(a) indicates that the estate includes all property of the type
included in section 541 that the debtor acquires after the commencement of
the case and before it is closed, dismissed, or converted.
Property of the estate does not include such retirement funds as set forth
in 541(b)(7).
However, when such an asset is "cashed out" and becomes simply "cash",
isn't this just a postpetition asset that comes into the estate under
section 1306(a)?
Holly Roark
Certified Bankruptcy Specialist*
*and Sports Lawyer*
holly@roarklawoffices.com **primary email address**
www.roarklawoffices.com
Central District of California - Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600 Los Angeles, CA 90067
T (310) 553-2600; F (310) 553-2601
*By State Bar of California Board of Legal Specialization
**Counsel for Chapter 13 Trustee Kathleen A. McCallister (Idaho) T (208)
922-5100
Section 1306(a) indicates that the estate includes all property of the type included in section 541 that the debtor acquires after the commencement of the case and before it is closed, dismissed, or converted.Property of the estate does not include such retirement funds as set forth in 541(b)(7). However, when such an asset is "cashed out" and becomes simply "cash", isn't this just a postpetition asset that comes into the estate under section 1306(a)?Holly RoarkCertified Bankruptcy Specialist*and Sports Lawyer
holly@roarklawoffices.com**primary email address**
www.roarklawoffices.com
Central District of California - Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600 Los Angeles, CA 90067
T (310) 553-2600; F (310) 553-2601
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