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Disclaimer of Inheritance in Ch7
1. The case stands for the two things: Valid disclaimer under non bk law
is not a fraudulent transfer under 548 and the disclaimer in the case is
valid under AZ law.
2. Yes.
3. See #1. Disclose, disclose, disclose.
If you have any questions or concerns please contact me.
Pat
Patrick T. Green
Attorney at Law
1010 E. Union St. Suite 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
Email: pat@fitzgreenlaw.com
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Dear Listmates,
PC disclaims her inheritance before filing Ch7. It's valid under the
laws of the jurisdiction (UK); disclaimer being prepared by UK
counsel.
I've reviewed the two Costas Cases, (Costas v Gaughan, 555 F3d 790,
9th Cir 2008) and the underlying BAP decision (346 B.R. 198).
1. Still good law, I assume. Even though it's an interpretation of
AZ law.
2. And the disclaimer must be valid under the law of the
jurisdiction of the probate estate, correct.
3. The decision holds that a disclaimer is NOT a (fraudulent)
transfer under 548, since the Debtor never had title to the property.
Must that disclaimer be reported in the SFA?
Gerald McNally
McNally Bus Card Smaller
Gerald McNally
McNally & Associates, P.C.
517 East Wilson Ave., Ste 104
Glendale, CA 91206
818.507.5100
Fax: 818.507.5001
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