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
File:
Judge:
Date:
Friday, June 30, 2000