How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ellen Your Own Question
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
Type Your Bankruptcy Law Question Here...
Ellen is online now
A new question is answered every 9 seconds

If we wait for two years to file for Chapter 13 0r 7 after

Resolved Question:

If we wait for two years to file for Chapter 13 0r 7 after we transfer the stock/property to our grandchildren, is the stock/property exempt from claim by the creditors?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 5 years ago.

Thank you for your new question.

"Exempt" is a legal term with a specific meaning. The property is not exempt from the claims of creditors. That said, you would not be required to disclose the transfer on your bankruptcy petition
Ellen and 3 other Bankruptcy Law Specialists are ready to help you

Related Bankruptcy Law Questions