In Re Wiley

MEMORANDUM OF DECISION

JIM D. PAPPAS, Bankruptcy Judge.

Introduction

The chapter 7 1 trustee, Jeremy Gugino (“Trustee”), objected to the claim of exemption in an annuity contract made by Debtors Charles Howard and Paula Jean Wiley. Dkt. No. 17. Debtors responded to the objection. Dkt. No. 23. The parties filed a stipulation as to the relevant facts, Dkt. No. 45, and briefed the issues, Dkt. Nos. 46 and 47, and the Court conducted a hearing concerning Trustee’s objection on February 12, 2012, Dkt. No. 49. After hearing the arguments of counsel, the issues were taken under advisement. Having…