How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Terry L. Your Own Question
Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2891
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
15345323
Type Your Bankruptcy Law Question Here...
Terry L. is online now
A new question is answered every 9 seconds

If a person has a judgement of fraud against him and has to

This answer was rated:

If a person has a judgement of fraud against him and has to pay 800K in penalty and interest, can he exempt any of his assets? if, so which ones..annities, home, cars The judgement was for fraud and given by a Utah court and the person lives in Kansas.He has about 250K in retirement annuities, and 250K in home equity, and he has about 80K in cars. Which state applies to the law?


Terry L. :

Hi, thanks for your question. You should hire a lawyer for specific legal advice. No attorney client relationship is created here.

Terry L. :

Technically, the plaintiff would have to move to domesticate the judgment in the state of Kansas. The debtor would be entitled to any Kansas exemptions to protect assets from judgments. Any unexempt assets could be liquidated and wages can be garnished to satisfy the judgment

Terry L. :

Let me know if you have any other questions.

Terry L. :

Thanks

Terry L. :

Terry

Terry L. :

Domesticate would be a suit in Kansas to honor the judgment from Utah to collect from the debtor in Kansas.

Terry L. :

THanks

Customer:

Is the annuity he owns exempt from collection from fraud, in kansas?

Customer:

what about his home is it exempt from collection from fraud in kansas?

Terry L. :

I cannot advise on those issues, those would be a matter of ruling for the judge. We cannot provide legal advice on this site. Just information only. The debtor can claim the exemptions at the citation to discover asset hearing, and the plaintiff can try to invalidate the exemptions due to fraud, and would need to cite any local case law to support that argument.

Terry L. :

The plaintiff would need to hire a Kansas attorney to prosecute the claim and domesticate the judgment, and the debtor should hire local counsel to declare and enforce available exemptions to protect those assets.

Terry L. :

Any other questions?

Customer:

no other questions, so you are saying I would have to see what exemptions apply to his assets by have court in Kansas... utah law suit that issed the judgement means nothing in Kansas? and I would have to go through Kansas court too?

Customer:

got to go back later

Terry L. :

yeah, you would need to domesticate judgment (meaning have Kansas honor it)

Terry L. :

You cannot collect from an out of state debtor without asking that state's court to honor your judgment

Terry L. :

The debtor would have to ask the court to honor his exemptions and whatever is not exempt is subject to seizure to satisfy the judgment

Terry L. :

You won't have to re-litigate the matter, it's basically just asking the Kansas court to accept the Utah ruling

Terry L. :

Let me know if you have any other questions

Terry L. :

thanks

Terry L. :

Terry

Terry L. :

Any followups?

Terry L. and other Bankruptcy Law Specialists are ready to help you