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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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In hindsight, if I transferred my business equipment into my

Resolved Question:

In hindsight, if I transferred my business equipment into my Family Trust and leased-back the equipment, would it have been protected from creditors' claims and/or the bankruptcy trustee?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 5 years ago.

Hi JACustomer,

If you transferred the equipment into a Family Trust less than 2 years before you filed your Bankruptcy, the Bankruptcy trustee would have been able to reverse the transfer.

If you had waited at least 2 years after the transfer to file your Bankruptcy, the equipment would have been safe from the trustee. Bankruptcy Stat. 548(a)(1).


I think this is what you wanted to know. If not, please let me know.

Thank you!

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