Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
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Debtors who are considering filing a Bankruptcy are allowed to engage in ''pre-Bankruptcy planning''.
This can include converting non-exempt assets (such as a bank account) in exempt assets (such as a retirement account).
Doing this type of conversion will not allow a Bankruptcy trustee to take the money out of the exempt retirement accounts.
This is something that is done often, and will not result in the raising of questions by the Bankruptcy court.
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