host posted on July 06, 2011 11:07
NACBA has filed an amicus brief in the case of In re Chilton, No. 11-40377 (5th Cir.). That case addresses the issue of whether a debtor may exempt an inherited IRA from his bankruptcy estate. NACBA’s brief relies on the plain language of the Code and refutes the trustee’s policy arguments as contrary to Congress’s chosen language and unsupported by legislative history and intent. This case is one of several such cases in which NACBA is involved, as the issue appears to be arising with greater frequency across the nation. Other cases are: Bierbach v. Tabor, No. 10-4660 (3rd Cir.) (NACBA brief not yet filed) and In re Hamlin, No. 11-1083 (9th Cir. BAP) (NACBA brief filed and available through website). Chilton is the first case to reach the briefing stage at the U.S. Court of Appeals level. Chilton 5th NACBA amicus.pdf