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Can A Bankruptcy Trustee Recover Assets Transferred To A Self-Settled Trust?, Christian Corkery
Can A Bankruptcy Trustee Recover Assets Transferred To A Self-Settled Trust?, Christian Corkery
Bankruptcy Research Library
(Excerpt)
A “spendthrift trust” provides a fund for the benefit of another, secures it against the beneficiary’s improvidence, and places it beyond the reach of the beneficiary’s creditors. A spendthrift trust has long been recognized as a useful vehicle for providing the beneficiary with the benefits of the trust while simultaneously preventing the beneficiary from voluntarily transferring his interest in the trust. This is particularly useful where the settlor wants to protect the transfer of wealth to a beneficiary. For instance, if a parent makes a large gift to an irresponsible child, the child will likely squander the gift …
Bankruptcy Court Jurisdiction After Executive Benefits Insurance Agency V. Arkison, Keith Sharfman, G. Ray Warner
Bankruptcy Court Jurisdiction After Executive Benefits Insurance Agency V. Arkison, Keith Sharfman, G. Ray Warner
Faculty Publications
(Excerpt)
Bankruptcy law has been struggling for several years now with the so-called "Stern problem”—the jurisdictional cloud of doubt that has been cast by the Supreme Court's decision in Stern v. Marshall over much of the work that bankruptcy courts have done routinely for decades. Since Stern was decided, bankruptcy courts and the litigants who appear before them cannot be confident that it is constitutional for non-Article III bankruptcy judges to adjudicate various matters over which there is clear statutory jurisdiction, such as avoidance actions against third party transferees who are not otherwise involved or participating in the bankruptcy …