With the Packers off to a 4-0 start in 2015, including wins over the hated Bears, Seahawks, and Chiefs, I thought I might take a moment to think about the Chapter 7 Bankruptcy and Chapter 13 Bankruptcy implications of Green Bay Packer Tickets.
As all Packer fans know, from Racine and Milwaukee in the south to Appleton and Green Bay in the north, Green Bay Packer tickets can be inherited. In many families, serious fights break out over who gets the Packer tickets when Dad, or Mom (let's not be sexist), dies.
This also means that you have a personal property interest in the tickets, like a commercial lease. You can sell the tickets freely, transfer the rights, or give away your Packer tickets, without the Green Bay Packers express written consent. Since you own the tickets, when you file Chapter 7 Bankruptcy or Chapter 13 Bankruptcy, they are an asset and must be protected from liquidation (or sale) by the Trustee.
Before your chest palpitations become a full blown-heart attack, this almost never happens. Green Bay Packer tickets can only be sold to close family members, so the value of the license is not very large. Moreover, the Bankruptcy Code and Wisconsin State Law allows you to exempt certain assets from Bankruptcy, and Green Bay Packer tickets can usually be exempted.
Contact Croke & Croke, S.C., fellow Packer fans, to discuss how to safeguard your Packer tickets during Chapter 7 Bankruptcy or Chapter 13 Bankruptcy.
Hey, also call if you want to sell your tickets. Alas, I don't have season tickets. ;(
Go, Pack, Go!
Further (serious) links:
Nolo on ticket licensing
Wisconsin Bar Magazine article on estate planning and Green Packer Tickets