Estate

Created by the filing of a voluntary, joint or involuntary petition and consisting of all of the debtor's legal and equitable interest in property as of the commencement of the case. An individual debtor is able to exempt certain property from the estate. Property of the estate also does not include (1) any power that a debtor can exercise for someone else's benefit; and (2) traditional spendthrift trust interests required by state law. The estate is administered by a debtor, a debtor-in-possession or a trustee.

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