While neither Social Security benefits nor post-petition income are estate property in Subchapter V, they must be included in an individual’s monthly operating reports, Bankruptcy Judge Jacobvitz says.
Courts have at least six theories about compensation for chapter 7 trustees for valuable services rendered when the case converts to chapter 13 before the trustee has made any distributions.
Judge Jacobvitz of New Mexico follows Judge Harner of Maryland in developing a standard for deciding whether a Subchapter V debtor may extend the time for filing a plan.
Unlike Clark v. Rameker, where an inherited IRA wasn’t exempt, the inheritance of benefits under a pension plan might not become estate property under Section 541(c)(2).