Tag: exempt property

Lump Sum Divorce Payment: Exempt Property in Bankruptcy

September 09, 2010 | Blog, Court Decisions, Divorce, Marital Property, Settlement

Icon for author Brian Vertz Brian Vertz

In Re Miller, 424 B.R. 171 (M.D. Pa. 2010) Wife/Debtor filed a chapter 13 bankruptcy petition, in which she attempted to classify an “income maintenance award” of $88,500 received in a divorce decree as property exempted from the bankruptcy estate.  The divorce decree provided that Wife was to receive $88,500 cash in order to effectuate a 67%/33% division of marital property.  Next, Wife’s former divorce lawyer filed a proof of […]

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