Podcast
Questions and Answers
Which type of bankruptcy exemption law is generally better for a homeowner in Wisconsin?
Which type of bankruptcy exemption law is generally better for a homeowner in Wisconsin?
- It depends on the value of the property
- State of Wisconsin exemption law (correct)
- Federal exemption law
- Both are equally beneficial
In the context of renting, why might Federal exemption law be more advantageous in Wisconsin?
In the context of renting, why might Federal exemption law be more advantageous in Wisconsin?
- It includes a 'Wild Card' value for exemptions (correct)
- It offers better protection for renters in bankruptcy cases
- It provides higher exemption values for personal property
- It allows exemption of all types of annuities
In Wittman v. Koening 2016 U.S. App. Lexis 13577 (7th Cir.), what was the basis of the Trustee's argument against the exemption of annuities in the bankruptcy case?
In Wittman v. Koening 2016 U.S. App. Lexis 13577 (7th Cir.), what was the basis of the Trustee's argument against the exemption of annuities in the bankruptcy case?
- The annuities were purchased 1.5 years before the petition was filed
- The annuities were not disclosed in the bankruptcy filing
- The annuities exceeded the allowed exemption amount
- The annuities were not employer-provided or compliant with retirement provisions (correct)
What is the significance of the 'Wild Card' value in Federal exemptions for bankruptcy in Wisconsin?
What is the significance of the 'Wild Card' value in Federal exemptions for bankruptcy in Wisconsin?
What is the cap for non-retirement annuity (life insurance plan)?
What is the cap for non-retirement annuity (life insurance plan)?
What is a requirement for a retirement annuity?
What is a requirement for a retirement annuity?
What type of tax applies to a retirement annuity?
What type of tax applies to a retirement annuity?
What does Wisconsin's exemption statute define an annuity as?
What does Wisconsin's exemption statute define an annuity as?
Under the tax code, what are retirement annuities allowed under?
Under the tax code, what are retirement annuities allowed under?
In Clark v. Rameker, what did the Supreme Court rule regarding inherited IRAs?
In Clark v. Rameker, what did the Supreme Court rule regarding inherited IRAs?
What is the main difference between inherited IRAs and traditional or Roth IRAs?
What is the main difference between inherited IRAs and traditional or Roth IRAs?
In the context of In re Polis, how is the value of a lawsuit calculated for bankruptcy estate?
In the context of In re Polis, how is the value of a lawsuit calculated for bankruptcy estate?
What did the district court state about inherited IRAs in In re Polis?
What did the district court state about inherited IRAs in In re Polis?
What is the tax implication of withdrawing funds from an inherited IRA?
What is the tax implication of withdrawing funds from an inherited IRA?
What is the time limit for taking money out of an inherited IRA?
What is the time limit for taking money out of an inherited IRA?
Can contributions be made to an inherited retirement account?
Can contributions be made to an inherited retirement account?
