1) The IRA and insurance cash value are exempt, but not the property in Oklahoma.
2) Are you asking if the Bankruptcy court will honor the divorce agreement promulgated by H and W?
3) The IRA and insurance cash value will be left. The Bankruptcy will not affect the ownership - as determined by the divorce agreement - of these assets.
Thanks for #1 and 3, it supports our original interpretation.
Here's the exercise: H & W have supported her spendthrift habits for years - therefore the 1st and 2nd Mortgage in excess of market value for the residence.
#2 question is to determine whether the farm in OK would be preserved for H if the BK court honors the divorce agreement separating the separate property and liability interests of the parties, give the Community Property Laws of NV.
Thanks for your response
If the farm is separate property - inherited by the husband during the marriage - that property will not be affected if W alone files a Bankruptcy - either during the marriage or after a divorce.
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