Bankr. E.D.N.C.: In re Young- No Exemption by Slayer

Summary: Debtor was first found by a civil court to be the slayer of Michelle Young, his wife.  He later filed a Chapter 7 bankruptcy, claiming 401k accounts as exempt.  While the bankruptcy was pending, he was convicted of the first degree murder of Ms.  Young. First the Court found that the Debtor was, pursuant to N.C.G.S. § 31A-3 (3)(a) and (b), as slayer to both the civil adjudication and the criminal conviction.  As such, he did own the 401k accounts as "[n]o person should be permitted to profit from his own wrong", Prudential Ins. Co v. Tull, 690 F.2d 848, 849 (4th Cir. 1982) and because N.C.G.S. § 31A-4 deems a "slayer" to have predeceased his victim for purposes of the victim’s estate. For a copy of the opinion, please see: Young- No Exemption by Slayer.pdf