In RE McDERMOTT

FINDINGS OF FACT AND CONCLUSIONS OF LAW ON TRUSTEE’S OBJECTION TO DEBTORS’ EXEMPTION CLAIM

KAREN S. JENNEMANN, Bankruptcy Judge.

The debtors claim an exemption under Florida Statute Section 222.11 for funds they contend represent Mr. McDermott’s “earnings” as a head of family. The Chapter 7 trustee objects, arguing the debtors cannot claim exemption under Section 222.11 because the funds do not meet the statutory definition of “earnings” but instead are equity withdrawals from the debtors’ business. 1 Because the Court concludes that the funds are not “earnings,” the trustee’s objection is…