Monthly Archives: March 2014

Florida Means Test Changes April 1, 2014

The median income used for the bankruptcy means test changes on April 1, 2014.   The median income figures slightly increase.  These figures are the starting point for determining eligibility between chapter 7 and chapter 13. The list below is the median income for each household size: 1    $41,939   2.    $ 52,598   3.     $ 54,742   4.   $64,122, and an additional $8100 for each additional person in the household.  These figures will now be used for any Florida bankruptcy including Fort Lauderdale bankruptcy filings.

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Law v Siegel: Supreme Court Strongly Protects Exemptions from Trustees

The United States Supreme Court on March 4, 2014 in Law v Siegel thwarted a trustee’ s attempt to surcharge the homestead exemption.  Based on a strict statutory construction, Justice Scalia for a unanimous court gave debtors great protection to assert their statutory exemption rights.  In a highly pro-debtor opinion, the Court basically held that Congress created a scheme for exempt property, and the courts cannot avoid congressional intent by creating other exceptions that are not in the Code.  Though trustees and creditors might have other remedies, exempt property remains exempt.  This case could have a great impact in Florida bankruptcy cases. Below is the syllabus of the Opinion. Slip Opinion) OCTOBER TERM, 2013 Syllabus NOTE: Where it is feasible, a syllabus (headnote) will be released, as is being done in connection with this case, at the time the opinion is issued. The syllabus constitutes no part of the opinion of the Court but has…
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