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What Does This Mean To You?

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    What Does This Mean To You?

    As of Oct 17, 2005 XXXState residents may claim the exemptions made available by XXXState law only if they were domiciled in XXXState for all of the two years before the bankruptcy filing. If the debtor was not domiciled in XXXState for all of those two years, then the debtor must claim the exemptions provided by the state where the debtor was domiciled for the greater part of six months between two years and two and a half years before the bk filing.

    To me this means if I've only lived here for a l yr and 3 mos, I need to use my last state's exemptions.

    I spoke with two doc preparers today who actually could not answer this. And one gave me a downright wrong answer.....unless I am wrong.
    Filed Chapter 7 Pro-Se May 29, 2008
    341 July 1, 2008
    Discharged September 4, 2008
    Closed November 10, 2008 :-)

    #2
    Well, let's look at this mathematically ;-)

    Go back two years in time....Ok, there? Now start your calender at zero. Drift back six more months...where were you living for most of those six months (most as in more than half)...That is the state you get to claim exemptions from..

    Now, of course that makes no sense, since it appears as though you could live for all of 3 months and 1 day someplace and then live almost two years in another place, yet be required to claim domicile in the 3 month 1 day state..Ah, such is bankruptcy law..

    BTW, this exercise is probably moot if both states allow only federal examptions and have not opted out...Understand this law was intended to prevent people from flocking to BK friendly states like Florida and Texas.
    Last edited by Knew_it_all; 02-21-2008, 06:59 AM. Reason: clarification

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