Clarification....

[CoBelle]

on the 30th day the trustee objection to exemption for alimony and retirement funds...both of which seem to be exempt from my view.

Does this mean that all my other claims of exemptions are ok? In other words, could I sell a car or furniture that I claimed as exempt and the trustee didn't object to
Or
do I have to wait until discharge?
Thanks!

[despritfreya]

CB,

If the Trustee failed to object to the items claimed as exempt within that 30 day window, the exemptions are deemed allowed. The problem is that you need to find case law that supports the proposition that once the exemption is allowed, the asset is removed from the estate. I can tell you that in my Circuit there is binding case law that the property is not removed thus allowing a Trustee to reap the benefits of any appreciation in value over the allowed exemption.

Remember, the Code does not remove property from the estate until it is abandoned therefore, until such happens, while the exemptions are allowed, the property is still property of the estate and therefore, you most likely cannot sell them.

If the items are of "inconsequential value", you could spend a few bucks on a filing fee and actually file a Motion to Abandon the assets to which the Trustee failed to object.

Des.

[CoBelle]

Thanks Des....sums it up nicely for me. Only worried cuz I'm giving stuff in storage away to the Thrift store cuz i can't afford storage.