Under the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act, a debtor's state exemptions are indeed determined by the law of the state where the debtor was domiciled for the 730 days immediately before filing. This provision was designed to prevent debtors from moving to states with more favorable exemption laws shortly before filing for bankruptcy.

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Under the 2005 Act

Question 92

Multiple Choice

Under the 2005 Act:

A) tax-exempt retirement accounts are included in the bankruptcy estate.
B) a debtor's state exemptions are governed by the law of the state where the debtor was domiciled for 730 days immediately before filing.
C) homestead exemptions are determined by state laws.
D) exempt property cannot be reached for the debtor's obligations, including domestic support obligations.

Correct Answer: