Stephen M Trezza's Legal Cases (2)

Chapter 7 bankruptcy

IN RE WILEY 4:10-bk-40808

Jun 03, 2011

OUTCOME: The court agreed that venue was not proper for wife and rather than dismissing only wife the parties elected to transfer the case to Nevada

Debtor/husband moved from Nevada to Arizona and filed a chapter 7 in Arizona after residing there for 112 days. Wife relocated to Texas and never lived in Arizona however she joined husband's Arizona f ... iling because the majority of the couples community assets were with husband in Arizona. Trustee filed an objection to wife's participation in the chapter 7.

Chapter 7 bankruptcy

In RE Thiem

Jan 19, 2011

OUTCOME: The total amount of the funds in the IRA are exempt under 33-1126(B), 33-1126(A)(1) and 522(b)(3)(C).

Debtors filed chapter 7 bankruptcy in 2010. Five years earlier a parent of one of the Debtor's died. The decedent owned a traditional IRA and Debtor was named as a designated beneficiary. The transfer ... of the funds to debtor was a trustee to trustee transfer so the funds were never in possession of the Debtor. The Debtor also complied with the rules regarding mandatory withdrawals and the new account was titled in the name of the Debtor and the decedant. Debtors claimed exemptions and the bankruptcy Trustee objected.The exemptions at issue are 33-1126(b), 33-1126(A)(1) and 522(b)(3)(C)

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