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In re Calaway, Case No. 99-54197-7 (06/30/2000) -- Judge Thomas S. Utschig

Case Summary:
Trustee moved for turnover of debtor’s interest in a trust.  The debtor argued that the trust was a “spendthrift trust” that was excluded from the bankruptcy estate by virtue of 11 U.S.C. § 541(c)(2).  The court, however, agreed with the trustee that since creditors could reach the trust res, it was not a true spendthrift trust.  The motion for turnover was granted.           

Statute/Rule References:
11 U.S.C. § 541 -- Property of the Estate
Wis. Stat. § 701.06 -- Spendthrift Provisions and Rights of Creditors of Beneficiaries

Key Words:
Trusts - Generally
Turnover of Property


Date: 
Friday, June 30, 2000