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The Security National Bank of Sioux City, IA v. Vera T. Welte Testamentary Trust

Summarizing by Amir Shachmurove

Charnetsky v. Buenviaje (In re Buenviaje)

Case Type:
Case Status:
BAP No. CC-16-1347-TaFC (9th Circuit, Mar 10,2017) Not Published
The BAP for the 9th Cir. affirmed the ruling of the bankruptcy court (C.D. Cal.) on other grounds, agreeing that funds in a bank account exclusively derived from social security payments were exempt, but finding the issue disposed of under federal law (42 USC 407a), rather than California law. Exemption was not limited to future payments, but encompassed payments received, held, and segregated from other non-exempt funds in a bank account. Under federal law, social security benefits were not property of bankruptcy estate.
Procedural context:
Creditors objected to debtor's claim of exemption, and bankruptcy court overruled objection. Creditors appealed to BAP for 9th Circuit.
Chapter 11 debtor claimed exemption under California law in $30k worth of social security benefits deposited exclusively in a single bank account, into which she deposited no other funds. Creditors objected.
Taylor, Faris, Clement

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