Legal Opinion
In Re Newman
United States Bankruptcy Court, C.D. Illinois
Decided December 14, 1987No. 19-70087PublishedCited by 8 opinions
1Opinion of the Court
OPINION
LARRY L. LESSEN, Chief Judge.
The issue before the Court is whether the Debtor’s interest in the corpus of a spendthrift trust, which is to be distributed to the Debtor at age 50 and is not subject to any spendthrift provisions, is part of the bankruptcy estate.
The Debtor, Joseph Newman, is the beneficiary of two irrevocable inter vivos trusts created by his parents, Joseph and Beatrice Newman, in December, 1946, and administered by Centerre Trust Company. The trusts contain spendthrift provisions. However, the trust terminates when the Debtor reaches the age of 50, and the corpus of…
2Cases cited10 opinions
- In Re Robert N. Brown and Barbara Bex Brown, Debtors. Barbara Bex Brown v. Virginia M. Dellinger, Individually and D/B/A Dellinger Art & AntiquesCourt of Appeals for the Second Circuit · 1984
- Hannan v. CharnessCourt of Appeals for the Seventh Circuit · 1942
- Geekie v. Watson (In Re Watson)United States Bankruptcy Court, C.D. Illinois · 1986
- Togut v. Hecht (In Re Hecht)United States Bankruptcy Court, S.D. New York · 1985
- Gordon C. York, Inc. v. Kragness (In Re Kragness)United States Bankruptcy Court, D. Oregon · 1986
5 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- In the Matter of Joseph Davidow Newman, Debtor. Robert M. Magill, Trustee-Appellant v. Joseph Davidow Newman, Debtor-AppelleeCourt of Appeals for the Seventh Circuit · 1990
- Banner v. Bagen (In Re Bagen)United States Bankruptcy Court, S.D. New York · 1995
- In Re KnightUnited States Bankruptcy Court, S.D. Florida. · 1994
- Newman v. MagillDistrict Court, C.D. Illinois · 1989
- Smith v. Baydush (In Re Baydush)District Court, E.D. Virginia · 1994
3 more not listed; retrieve them via the Exa API.