Exempt property after filing


M

Mark T. B. Carroll

As I understand it, pay that you're due but haven't yet received is part
of the bankruptcy estate, as is the property you listed as exempt, until
several weeks after filing when it's back to being yours.

Which raises the question, what to pay regular bills with in the
interim? If I have a paycheck coming imminently after filing, that's
already part of the estate, and my `exempt' cash I already have is also
part of the estate. I don't know how thrilled the trustee will be if I
go spending it even if in the knowledge that I'll be replacing it again
with yet another paycheck in due course and it'll be mine again in the
end anyway once my listed exempt things are approved.

Mark
 
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