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

Summarizing by Amir Shachmurove

Neal v. First Alliance Bank

Citation:
Neal v. First Alliance Bank, Case No. 13-6531 (July 9, 2014).
Tag(s):
Ruling:
Applying Tennessee law, the Sixth Circuit affirmed the District Court's decision sustaining the Chapter 7 Trustee's objection to the Debtors' attempt to exempt two annuities.
Procedural context:
On appeal from the U.S. District Court for the Western DIstrict of Tennessee.
Facts:
The debtors, husband and wife, attempted to exempt two annuities. Each debtor was the owner of one of the annuities and the other debtor was the beneficiary. Applying Tennessee law, the Sixth Circuit sustained the Chapter 7 Trustee's objections to the exemptions.
Judge(s):
Guy, Kethledge, and Stranch

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