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Hi - my name is ***** ***** I'm licensed in Tennessee. I'll be glad to assist.
The Tennessee Fraudulent Transfer Act provides that anyone who anticipates being sued or who has been sued and transfers property or assets in an attempt to prevent the plaintiff/claimant from having property/assets to liquidate in order to satisfy a judgment or claim is presumed to have made a fraudulent transfer. Here's a link to the law: http://law.justia.com/codes/tennessee/2010/title-66/chapter-3/part-3
Any transfers of property or assets would be presumed fraudulent and the court could reverse those transactions so the creditor could attach the judgment to your assets.
Thus, it is not a good idea to transfer assets if you anticipate being sued or if you have been sued....and it really will do you no good in the long term.
Please let me know if you need anything further. Thanks again!