Retirement Accounts Awarded in Divorce May Not Be Exempt in Bankruptcy

The U.S. Supreme Court’s decision in Clark v. Rameker, 134 s.Ct. 2242(2014), saying that inherited IRAs are not exempt in bankuptcy, formed the basis for a 2018 ruling from the Bankruptcy Appellate Panel involving a different type of retirement account: divorce court-awarded IRAs and 401(k)s. While the bankruptcy code’s section 522(d)(12) allows an exemption for…

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Craig Andresen Elected Vice Chair of MSBA Bankruptcy Law Section

In May 2018, Craig Andresen was elected by the Bankruptcy Law Section to serve as Vice Chair for the 2018-19 year.  This position also entails supervising the Pro Bono Committee and assisting the committee in formulating its annual budget.  Other duties include serving on the planning committee for the annual Bankruptcy Institute.

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How to Stop a Foreclosure Without Filing Bankruptcy

Yes, in Minnesota you can stop a mortgage foreclosure, and save your home, without filing bankruptcy.  What’s more, there are two ways to accomplish this important result. The Minnesota legislature recently enacted two new statutes allowing a homeowner to stop a residential mortgage foreclosure.  These were enacted in response to the housing market meltdown —…

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Craig Andresen Appointed Treasurer of MSBA Bankruptcy Section

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On May 21, 2016, the Minnesota State Bar Association’s Bankruptcy Section appointed Bloomington attorney Craig Andresen as treasurer of the section, for the 2016 – 2017 year.  This follows Mr. Andresen’s service as education director for the prior year, and his service as chair of the consumer committee the year prior to that.   Mr.…

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New Minnesota Bankruptcy Court Ruling Protects Property Tax Refunds

In a case in which Andresen Law Offices represented the debtor, the Minnesota bankruptcy court issued a published decision barring chapter 7 trustees from taking property tax refunds. This ruling by Judge Ridgeway, In re Johnson, No. 13-41370 (Bky. D. Minn. Sept. 11, 2013), held that Minnesota property tax refunds are “government assistance based upon…

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Minnesota’s Bankruptcy Judges Enact Rule Governing Chapter 13 Lien Stripping

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Just seven months after the federal appeals courts upheld the right of chapter 13 debtors to strip off a completely unsecured second mortgage on homestead real estate (in a case litigated by Craig Andresen), Minnesota’s four bankruptcy court judges enacted Local Rule 3012-1, which sets forth the procedure for lien stripping.  This action demonstrates the…

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