In re Weilert

MEMORANDUM DECISION REGARDING TRUSTEE’S OBJECTION TO EXEMPTION AND MOTION TO COMPEL TURNOVER OF PROPERTY

Before the court is a contested matter filed by the chapter 7 trustee, James E. Salven (the “Trustee”). The Trustee asks the court to disallow an exemption (the “Objection”) claimed by the debtors, Michael Weilert and Genevieve M. de Mon-tremare (the “Debtors”) applicable to the funds — approximately $23,000 — they hold in some individual retirement accounts (the “IRA Accounts”). The Trustee also seeks an order compelling the Debtors to turn over the funds to which the Objection applies (the “Turnover Motion”). 1 The Turnover Motion is contingent on the outcome of the Objection. There are no factual disputes and both matters hinge on an interpretation of the relevant California exemption statute. Because the Objection is based on a misinterpretation of the statute, it will be overruled and the Turnover Motion will be denied.

This memorandum decision contains the court’s findings of fact and conclusions of law required by Federal Rule of Civil Procedure 52(a), made applicable to this contested matter by Federal Rule of Bankruptcy Procedure 7052 and 9014. The court has…