529 and 530 exemptions
Posted: Thu Dec 15, 2011 11:20 am
Both 11 USC 541(b)(5) and (6) respectively relating to Education IRA's and 529 plans, have the same language, excluding certain "funds" but without distinguishing the source.
Contributions within one year of the filing don't seem to be excluded, or funds over $5850 in the second year before filing either.
If Debtor's father contributes to Debtor's son's 529 within the year before filing, is there anyone who thinks that is subject to bankruptcy Estate administration? It is "funds"....
Jason
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