The BakerHostetler Bankruptcy, Restructuring, and Creditor’s Rights team has issued an Executive Alert highlighting two recent decisions involving debtors in bankruptcy.  The first case holds that tuition payments for the debtor’s minor children’s parochial school tuition are not fraudulent transfers.  The second case holds that profit sharing plan assets used to fund the debtor’s IRA are not exempt from the claims of the debtor’s creditors because the debtor failed to maintain the profit sharing plan in substantial compliance with the tax laws.

See “Protecting Private Wealth: Recent Bankruptcy Cases Involving Tuition Payments and Profit Sharing Plans” for more details.