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Ellen, Attorney
Category: Bankruptcy Law
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Experience:  Bankruptcy Lawyer. Experienced.
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If we wait for two years to file for Chapter 13 0r 7 after

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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: 6 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 6 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
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