In re: Gordon

Michael and Rebecca Gordon filed a voluntary petition for bankruptcy. In their petition, they sought to treat $2,051 in a savings account as an exempt asset under the Colorado exemption for “[p]roperty . . . held in or payable from any pension or retirement plan or deferred compensation plan.” The Trustee objected on the ground that the exemption did not apply to funds once paid out from a retirement plan. The bankruptcy court sustained the Trustee’s objection and denied the Gordons’ motion for reconsideration. The United States District Court for the District of Colorado affirmed, and finding no reversible error, the Tenth Circuit also affirmed. View "In re: Gordon" on Justia Law