Legal Opinion
In re Thomas
United States Bankruptcy Court, D. Idaho
Decided July 9, 2012No. 11-41915-JDPPublishedCited by 1 opinion
1Opinion of the Court
MEMORANDUM OF DECISION
JIM D. PAPPAS, Bankruptcy Judge.
Introduction
Within the two weeks prior to filing for a chapter 71 bankruptcy case, debtors James and Laura Thomas (“Debtors”) used $12,0002 in a life insurance policy’s non-exempt cash value to fund two exempt individual retirement accounts (“IRAs”) of $6,000 each. This reduced the cash value in the insurance policies to $4,782.50, an amount within the $5,000.00 limit of the Idaho exemption allowed for the policy. Chapter 7 trustee R. Sam Hopkins (“Trustee”) objected to Debtors’ claimed exemptions in the IRAs and in the life insurance…
2Cases cited17 opinions
- Pioneer Investment Services Co. v. Brunswick Associates Ltd. PartnershipSupreme Court of the United States · 1993
- In Re: Nell Carter, Debtor. Nell Carter v. Peter C. Anderson, Chapter 7trustee,appelleeCourt of Appeals for the Ninth Circuit · 1999
- Wolkowitz v. Beverly (In Re Beverly)United States Bankruptcy Appellate Panel for the Ninth Circuit · 2007
- Culver, LLC v. Chiu (In Re Chiu)United States Bankruptcy Appellate Panel for the Ninth Circuit · 2001
- In Re SholdanCourt of Appeals for the Eighth Circuit · 2000
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3Cited by1 opinion
- In re SmithUnited States Bankruptcy Court, D. Idaho · 2017