Legal Opinion
Estate of Jones Ex Rel. Blume v. Kvamme
Court of Appeals of Minnesota
Decided May 18, 1992No. CX-91-1359PublishedCited by 3 opinions
1Opinion of the Court
OPINION
AMUNDSON, Judge.
Respondent obtained a judgment against appellant and attempted to garnish his individual retirement account (IRA) at Dain Bosworth (Dain). Appellant claimed the IRA was exempt from garnishment pursuant to Minn.Stat. § 550.37, subd. 24. The trial court concluded the IRA was not exempt because it had been used as security. The trial court also concluded the IRA was not reasonably necessary for the support of appellant, his spouse and dependents. We disagree and reverse.
FACTS
In 1980 appellant rolled over $110,000 into an IRA at National Bank of Commerce/MidAmerica…
2Cases cited3 opinions
- A. J. Chromy Construction Co. v. Commercial Mechanical Services, Inc.Supreme Court of Minnesota · 1977
- Jadwin v. Minneapolis Star & Tribune Co.Supreme Court of Minnesota · 1985
- Van Valkenburg v. AllenSupreme Court of Minnesota · 1910
3Cited by3 opinions
- ESTATE OF JONES BY BLUME v. KvammeSupreme Court of Minnesota · 1995
- ESTATE OF JONES BY BLUME v. KvammeCourt of Appeals of Minnesota · 1994
- Estate of Jones Ex Rel. Blume v. KvammeSupreme Court of Minnesota · 1992