Detailed Exemption Information

[pigpen75]

I was wondering if anyone new of a website where I could find detailed information for each exemption. I found many sites that lists exemptions but there is no details. Thanks.

[justbroke]

I was wondering if anyone new of a website where I could find detailed information for each exemption. I found many sites that lists exemptions but there is no details. Thanks.

There aren't details because you need to know how to apply them.

So the question back to you is, what are you really trying to do?

[pigpen75]

There aren't details because you need to know how to apply them.

So the question back to you is, what are you really trying to do?

Well, I recieved life insurance benefits in the amount of $26K from my fathers AFBA (Armed Forces Benefits Association) life insurance policy. Under federal exemptions if has "Military group life insurance". I don't know if this would qualify? Please help, my lawyer doesn't seem too motivated to help me now that he paid. Also, the Trustee told us he would hold the check and see what exemptions we could come up with. It almost seemed he was pulling for us because we were honest and upfront about the check. I don't think he would of said anything about the exemptions if there weren't any out there?

[justbroke]

Well, I recieved life insurance benefits in the amount of $26K from my fathers AFBA (Armed Forces Benefits Association) life insurance policy. Under federal exemptions if has "Military group life insurance". I don't know if this would qualify? Please help, my lawyer doesn't seem too motivated to help me now that he paid.

I'd list it under the Federal Exemption. I don't know anything about the AFBA, but if it's the official policy underwriter for the armed forces, then I would want to believe it qualifies as "survivor benefits" under the Federal Exemptions.

Worse case, the Trustee challenges you on it. You could call the AFBA and ask them if it's a survivor benefit under 10 USC 1450.

[pigpen75]

I'd list it under the Federal Exemption. I don't know anything about the AFBA, but if it's the official policy underwriter for the armed forces, then I would want to believe it qualifies as "survivor benefits" under the Federal Exemptions.

Worse case, the Trustee challenges you on it. You could call the AFBA and ask them if it's a survivor benefit under 10 USC 1450.

Sweet thanks, I will and I'll let you know what happens

[justbroke]

Sweet thanks, I will and I'll let you know what happens

As a matter of fact, list both the "survivor benefits" and "life insurance" sections as your basis.

Military group life insurance
(Survivor's benefits) Military service

[pigpen75]

***UPDATE***

The Trustee made a deal and said he will allow $6k to be exempt. My lawyer said we can still fight for the whole thing but we may end up with nothing, especially since the insurance policy is civilian and not miliatary. So i think I made out pretty good.

[justbroke]

The Trustee made a deal and said he will allow $6k to be exempt. My lawyer said we can still fight for the whole thing but we may end up with nothing, especially since the insurance policy is civilian and not miliatary. So i think I made out pretty good.

Very nice. See, Trustees can be agreeable sometimes. Usually, when they don't want a fight, they just split it down the middle.

Good for you!