Question: Orso, who had declared bankruptcy, received a structured tort settlement in a personal injury claim he had pending. The settlement would pay him an annuity

Orso, who had declared bankruptcy, received a structured tort settlement in a personal injury claim he had pending. The settlement would pay him an annuity each year for 30 years because the claim was the result of an auto accident that left him permanently and severely brain damaged with an IQ of about 70. His wife had a pending claim for $48,000 in arrearages on Orso’s $1,000 per month child support payments. His wife wanted the annuity included in the bankruptcy estate. Would this property have been included in Orso’s bankruptcy estate? [In re Orso, 214 F3d 637 (5th Cir)]

Step by Step Solution

3.35 Rating (173 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Orsos payments are nonexempt Under the terms of the settl... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

131-L-B-L-D-C-R (140).docx

120 KBs Word File

Students Have Also Explored These Related Business Law Questions!