Jeffrey R. Odell & Michelle L. Miller, Ch. 7, BK14-80602 (July 1, 2014)

The debtor is the beneficiary of a living trust. The Chapter 7 trustee claimed the debtor’s interest in the trust as an asset of the bankruptcy estate. Construing the trust agreement in its entirety, the court overruled the trustee’s motion, finding that the trust is subject to an enforceable spendthrift provision and is excluded from property of the bankruptcy estate pursuant to § 541(c)(2).

Tuesday, July 1, 2014