Schwab: Exempting 100% Interest in Asset

AyobamiOfficial Form 106Cs Schedule C: The Property You Claim as Exempt, effective December 1, 2015, permits debtors to remove assets from the estate unless the trustee objects and proves the property is worth more than “any applicable statutory limit.” Judge Marvin Isgur of the Southern District of Texas approved of the new form’s Schwab option in In re Ayobami in his March 1, 2016 Memorandum Opinion Ayobami¬†and clarified in his Supplemental Memorandum Opinion issued on June 9, 2016. Ayobami supplementatl memo order, when electing dollar-limited federal¬†exemptions.

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