Amending the Exemptions
Posted: Mon Dec 05, 2016 9:34 pm
Without going into too much detail, 522(b) says the "debtor may exempt..."
the "may exempt" language is without qualification so it can be done at any
time. Law v. Siegel confirmed that this is true subject to state law
exceptions. Some Trustee's have successfully argued that equitable estoppel
can be used to stop a debtor from claiming an exemption. In California,
equitable estoppel is codified in evidence code section 623.
It's possible that equitable estoppel does not apply to your client but
this is a question of fact/equity which the judge will ultimately
determine. You can probably make a deal with the trustee which is what I
would recommend absent other facts.
Sincerely,
*Michael Avanesian *
*[image: avanesian-law-logo-modern]*
801 N. Brand Blvd., Suite #1130
Glendale, CA 91203
Tel: (818) 276-2477 | Fax: (818) 208-4550
We are a debt relief agency. We help people file for bankruptcy relief
under the Bankruptcy Code.
*Confidentiality**: *This electronic transmission and its contents are
legally privileged and confidential information and intended solely for the
use of the addressee. If the reader of this message is not the intended
recipient, you are hereby notified that any dissemination, distribution,
copying or other use of this message and its contents is strictly
prohibited. If you have received this transmission in error, please reply
to us immediately and delete this message from your directory.
*IRS Circular 230 Disclosure:* Any U.S. federal tax advice contained in
this communication (including any attachments) is not intended or written
to be used or relied upon, and cannot be used or relied upon, for the
purpose of (i) avoiding penalties under the Internal Revenue Code, or (ii)
promoting, marketing or recommending to another party any transaction or
matter addressed herein.
On Mon, Dec 5, 2016 at 4:07 PM, 'Steven B. Lever' sblever@leverlaw.com
[cdcbaa] wrote:
>
>
> You need an open case to amend exemptions. Its just a procedural matter
> since you amend them with the Court. How can you do that if the case is
> closed? Its not a legal aspect for which you need authority.
>
>
>
> I would also think the Trustee cannot distribute funds without reopening
> the case. Wait for him/her to do it and then file the amended exemption.
>
>
>
> Steven B. Lever
>
>
>
> *From:* cdcbaa@yahoogroups.com [mailto:cdcbaa@yahoogroups.com]
> *Sent:* Monday, December 05, 2016 4:04 PM
> *To:* cdcbaa@yahoogroups.com
> *Subject:* [cdcbaa] Amending the Exemptions
>
>
>
>
>
> Dear Listmates,
>
>
>
> Can you please point me to authority on debtor's right to amend the
> exemptions at any time?
>
>
>
> My ch 7 debtor amended her exemptions recently in order to claim funds
> received by the trustee; debtor has available exemptions.The trustee
> objected to the amendment stating that debtor can not amend the exemption
> when case has closed. Case was filed in 2013, and discharged was obtained.
>
>
>
> Thank you.
>
>
>
> Nancy Korompis
>
> Tel: 626-716-7763
>
>
>
>
>
>
>
>
>
Without going into too much detail, 522(b) says the "debtor may exempt..." the "may exempt" language is without qualification so it can be done at any time. Law v. Siegel confirmed that this is true subject to state law exceptions. Some Trustee's have successfully argued that equitable estoppel can be used to stop a debtor from claiming an exemption. In California, equitable estoppel is codified in evidence code section 623.It's possible that equitable estoppel does not apply to your client but this is a question of fact/equity which the judge will ultimately determine. You can probably make a deal with the trustee which is what I would recommend absent other facts.iv>Sincerely,Michael Avanesian
The post was migrated from Yahoo.