Articles Tagged with chapter 7

The Florida Right to Medical Marijuana Initiative, Amendment 2 is on the November 4, 2014 ballot in Florida as an initiated constitutional amendment. The measure, if approved, would legalize medical marijuana in the State of Florida in certain circumstances. More specifically it would provide that the medical use of marijuana by a qualifying patient would not be subject to criminal or civil penalties under state law. The measure needs 60% of the votes to pass.

Since 1996, twenty states along with Washington D.C. have passed laws allowing smoked marijuana to be used for a variety of medical conditions. Two States, Colorado and Washington, have passed laws legalizing the recreational use of marijuana. It is important to recognize that state marijuana laws do not change the fact that marijuana use continues to be an offense under Federal law. The filing of a Bankruptcy petition is governed by Federal Law.

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Shortly after her murder acquittal, Casey Anthony filed for Chapter 7 bankruptcy protection in the Middle District of Florida in January of 2013. According to her bankruptcy schedules, Anthony’s total amount of debt was close to $800,000; most of which were attorney fees. She listed that she was unemployed, and claimed about $1,000 of total assets.

In a normal Chapter 7 bankruptcy case, a trustee is appointed to administer the bankruptcy estate. Pursuant to section 541 of the Bankruptcy Code, the bankruptcy estate consists of all legal and equitable interests of the debtor in property at the time of the bankruptcy filing. State law then allows a debtor to exempt, or keep, a certain amount of property from the bankruptcy estate. In Chapter 7 bankruptcy the Debtor would then have a choice to either surrender his or her non-exempt assets, or to buy them back from the bankruptcy estate. Since Casey Anthony had very few assets, most of her property would have been exempt. She would eventually receive her discharge of her debt, while paying very little back to the bankruptcy trustee.

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