In re Williams

AMENDED MEMORANDUM OF DECISION RE OBJECTION TO DEBTOR’S CLAIM OF EXEMPTION

On April 9, 2015 (the “Petition Date”), Susanne Renee Williams (“Debtor”) filed a voluntary petition under chapter 7 of the Bankruptcy Code. Thereafter, Diane C. Weil was appointed as the Chapter 7 Trustee of the Debtor’s estate (the “Trustee”).

Four months after the Petition Date, Debtor amended her schedules and listed an income stream from her deceased father’s California Public Employees Retirement System (“CalPERS”) pension (“Pension”) on her amended Schedule B and claimed an exemption in the amount of $2 million under Section 70S.140(b)(10)(E) of the California Code of Civil Procedure (“CCP”). See Trustee Obj.. Ex. 1.

Trustee’s Objection challenges Debtor’s exemption (“Exemption”) claimed pursuant to CCP 703.140(b)(10)(E) in her surviv-orship interest in the Pension, which provides her with a monthly payment of $2,207.23, Debtor states that her monthly CalPERS payment is as a result of her father’s death, and based upon his length of service as a public employee. Debtor is the designated payee of the Pension according to CalPERS documents Debtor’s Declaration in Support of Opposition, Ex.…