Duty to of Ch. 13 debtor to disclose=20
Posted: Mon Jul 22, 2013 10:53 am
They may have spendthrift clauses, but those do not apply if the
beneficiary has reached the age where the trust document calls for an outright
distribution to that beneficiary.
Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
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Thousand Oaks, CA 91360
(805) 497-5868 (805) 497-5864 (Facsimile)
In a message dated 7/22/2013 10:44:03 A.M. Pacific Daylight Time,
law@3yl.com writes:
Also most trusts have a spendthrift clause!
Jonathan Leventhal, Esq..
Leventhal Law Group, P.C.
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Mark Jessee
Sent: Monday, July 22, 2013 10:40 AM
To: cdcbaa@yahoogroups.com
Subject: Re: [cdcbaa] Duty to of Ch. 13 debtor to disclose
postconfirmation inheritance (2 years into plan)
Look at the confirmed plan local form: assets are not vested back to
debtor. Debtor has a duty to disclose if an asset of the estate. If under a
will it is part of estate. If under a trust you may have an argument that it
is not because it is not through, bequest, devise, or inheritance. See
matter of Newman 902 f.2d 1150 (7th cir. 1990).
Mark Jessee
Sent from my iPhone
On Jul 22, 2013, at 10:17 AM, Daniela Romero wrote:
Hi all,
What is the duty of a debtor in a confirmed chapter 13 plan to disclose aninheritance she recei ves approximately 2 years into the plan?
It appears that under Sec. 1306(a) the new inheritance is property of theestate, thus the debtor has a duty to amend the schedules and disclose the
inheritance to the trustee. However, under 1327(b) confirmation of the
plan vests property of the estate back to the debtor.
Any consensus here?
Thanks!
Daniela P. Romero
Law Office of Daniela P. Romero, APLC
1015 North Lake Ave., Ste. 212
Pasadena, CA 91104
Tel: (626) 817-2611
Fax: (626) 296-6991
email: _dromerolaw@gmail.com_ (mailto:dromerolaw@gmail.com)
web: _www.pasadenabankruptcylaw.com_
(http://www.pasadenabankruptcylaw.com/)
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