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Wednesday, July 11, 2012
We also won a trial in bankruptcy court. In that case, the client had stock in a club that owned hunting land. He claimed the stock was a "family heirloom" and the creditors challenged whether stock could be an heirloom. The client testified that he and his father hunted on that land when he was a child and it was filled with sentimental memories. He planned to pass the stock and hunting rights to his own child. The bankruptcy judge ruled that the stock was a family heirloom and he was entitled to exempt it from his bankruptcy estate.