Turning Non-Exempt Property into Exempt Property

Suspense Accounts

The Bankruptcy Code is full of traps for the unwary. For instance, Section 522(o) of the Bankruptcy Code reduces the value of a debtor’s homestead exemption when funds from nonexempt assets are applied to the homestead within 10 years of the bankruptcy filing with the actual intent to hinder, delay, or defraud a creditor. To […]