Living Trust a Fraudulent Transfer?
Posted: Thu Feb 10, 2005 5:35 pm
Wes seems to have gotten very aggressive of late, it seems more
aggressive since he joined his new firm. I would agree with the
analysis that the homestead is not lost upon transfer to the
revocable trust. Under the IRC, isn't the mortgage interest still
deductible as the primary residence? If the property continues to be
deemed a residence under the IRC, isn't it still the residence under
the Code?
I would get very aggressive with Wes, as I did in a case where the
Trustee is attempting to avoid a transfer done under a marital
dissolution. I answered and included as an affirmative defense with
Rule 9011 language, and then propounded discovery requesting that the
Trustee disclose the extent to which any investigation was done
before commencing the action. I can forward my discovery and answer
to anyone who would like to take a look.
Lou Esbin
Louis J. Esbin, Esq.
Law Offices of Louis J. Esbin
27951 Smyth Drive, Suite 108
Valencia, CA 91355-4049
Dial: 661.257.3636
Fax: 661.257.3297
Louis.Esbinlaw@sbcglobal.net
wrote:
> Wes said he's pushing the envelope to see if he can get out of
having to
> pay the homestead. It's VERY aggressive, but does not appear
9011'ish
> to me. If client cannot afford to litigate, perhaps a settlement
which
> compromises the 150k homestead to some extent?
> David A. Tilem
>
>
>
> Sent: Wednesday, February 09, 2005 7:21 PM
> To: cdcbaa@yahoogroups.com
> Subject: RE: [cdcbaa] Re: Living Trust a Fraudulent Transfer?
> If I wasn't a professional I would answer that question. Maybe our
next
> course of action as a group should be to go after some zealous
trustees
> and their Counsel, or I affectionately refer to it as, "the crony
> system" or ganuffs 'r us (sp?) Some have no shame in making a case
> administratively insolvent and work cases for their own gain rather
than
> the benefit of creditors. With cases down, more than ever they
consider
> cases as opportunities. Just an idea. CS
> Charles Shamash, Esq.
>
>
> Sent: Wednesday, February 09, 2005 4:35 PM
> To: cdcbaa@yahoogroups.com
> Subject: RE: [cdcbaa] Re: Living Trust a Fraudulent Transfer?
> I just wrote to Wes to ask why he filed an action rather than simply
> revoking the trust.
> David A. Tilem
>
>
> Sent: Wednesday, February 09, 2005 2:42 PM
> To: cdcbaa@yahoogroups.com
> Subject: RE: [cdcbaa] Re: Living Trust a Fraudulent Transfer?
> Ya think so, do you mean to tell me that a trustees counsel would
work a
> case just for fees, I am so shocked!!!!!!!!!!!
> Charles Shamash, Esq.
> Caceres & Shamash, LLP
>
>
> Sent: Wednesday, February 09, 2005 9:38 AM
> To: cdcbaa@yahoogroups.com
> Subject: RE: [cdcbaa] Re: Living Trust a Fraudulent Transfer?
> Dennis,
> The trustee is Peter Anderson, but it is actually Wes Avery who has
> taken
> this position and filed the adversary complaint on behalf of Peter
> Anderson.
> I think he's doing this so he can run up attorney fees.
> Ty
>
> >Reply-To: cdcbaa@yahoogroups.com
> >To: cdcbaa@yahoogroups.com
> >Subject: [cdcbaa] Re: Living Trust a Fraudulent Transfer?
> >Date: Wed, 09 Feb 2005 16:55:27 -0000
> - In cdcbaa@yahoogroups.com, "Tyson Takeuchi"
> >wrote:
> >Oh, my, who is the trustee?
> >revocable living trusts are revocable. The trustee has the power
to
> >revoke if the trustee desires. It is a circular, argument. The
debtor
> >cannot have taken the property from the estate if the trustee has
the
> >power to revoke.
> >What is worse, beneficial interests are homesteadable and exemption
> >planing is encouraged, not discouraged.
> >Who is this trustee? The name should be posted as we will all
have to
> >deal with this inacurate legal position.
> >Ty, if you are unable to help this woman, send her my way.
> >dennis
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