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P. Simmons
P. Simmons, Attorney
Category: Bankruptcy Law
Satisfied Customers: 33096
Experience:  16 yrs. of trial experience
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My in-laws are about 100k in debt. They are both on social

Customer Question

My in-laws are about 100k in debt. They are both on social security with no other income. They own their house and it is worth about 400K. What would be the best way to transfer to my wife to protect from creditors if they were to go bankrupt?
Submitted: 9 months ago.
Category: Bankruptcy Law
Expert:  P. Simmons replied 9 months ago.

Hello! My name is ***** ***** I am a licensed attorney with more than 18 years of experience. I am here to assist you with your questions. Please understand that if I ask you for additional information, you are NOT charged again and our communications are NOT timed. So please see this as a relaxed conversation between friends. I am here to help

Also, if you would like to chat on the phone, let me know and I can make that happen.

The best way would be via trust. If they create a non revocable trust, that can help protect the asset from creditors.

They can have a local attorney create this trust for them

Please let me know if you have more questions. I am happy to help if I can. Otherwise, please rate the answer so I may get credit for my work.

Expert:  P. Simmons replied 9 months ago.

follow up

Please let me know if you have more questions. I am happy to help if I can. Otherwise, please rate the answer so I may get credit for my work.