Bankruptcy Law

Bankruptcy law questions? Ask a bankruptcy lawyer.

Ask a Lawyer,
Get an Answer ASAP!

My in-laws are about 100k in debt. They are both on social…

Customer Question
My in-laws are about 100k...
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: 2 years ago.Category: Bankruptcy Law
Show More
Show Less
Ask Your Own Bankruptcy Law Question
Answered in 47 minutes by:
2/17/2016
Bankruptcy Lawyer: P. Simmons, Attorney replied 2 years ago
P. Simmons
P. Simmons, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36,971
Experience: 16 yrs. of trial experience
Verified

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.

Ask Your Own Bankruptcy Law Question
Bankruptcy Lawyer: P. Simmons, Attorney replied 2 years 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.

Ask Your Own Bankruptcy Law Question
Was this answer helpful?
Ask P. Simmons Your Own Question
P. Simmons
P. Simmons
P. Simmons, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36,971
36,971 Satisfied Customers
Experience: 16 yrs. of trial experience

P. Simmons is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Terry L.

Terry L.

Attorney

2,679 satisfied customers

Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.

cortrightlaw

cortrightlaw

Attorney

511 satisfied customers

Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.

JoeLawyer

JoeLawyer

Attorney

376 satisfied customers

Attorney in the practice of Bankruptcy Law since 1996

A.J.

A.J.

Attorney

262 satisfied customers

Experienced consumer bankruptcy attorney.

Fritz

Fritz

Attorney

209 satisfied customers

Florida attorney with extensive experience in Chapter 7 and Chapter 13 consumer bankruptcy cases

Law Girl

Law Girl

Attorney

153 satisfied customers

I am an attorney.

Paul K, Esq.

Paul K, Esq.

Attorney

141 satisfied customers

10 years Exp., Great customer service, Prompt responses.

< Previous | Next >

Related Bankruptcy Law Questions
I bought a car from chevrolet 2014 volsswagon Jetta hybrid
I bought a car from bennett chevrolet 2014 volsswagon Jetta hybrid at 22 percent interest, it has ben in the shop 8 out of 10 days. wont go into detail. I tried to get out of the contract, car leaking trasmission fluild and Volswagon said it needed a new transmission. I havent even made my first payment, had the standard coverage superior protection plan. the car is not safe to drive, and they told me it would take a long time to find parts for this model car to be fixed. the dealership would not work with me or the bank credit acceptance. My credit is bad and wanted to buy a car to help my credit. Guess what i told them to keep the car to auction and me pay the reminder. I cant keep this car. So I can file chapter 7 to get them off my back? … read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
I need to reopen a chapter 7 and add a judgment that was
I need to reopen a chapter 7 and add a judgment that was missed in 2009 … read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
I had to file for CH13 ONLY to save my house from an illegal
I had to file for CH13 ONLY to save my house from an illegal foreclosure can I still sue for wrongful foreclosure in state OR federal court … read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
Can i use the attached document concerning a successor in
can i use the attached document concerning a successor in interest to get the state court from trying to sale my house off because of the borrower who has engaged in constructive fraud or constructive… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
I want to get out of my auto-loan with JD ByRider & their
Hey, I want to get out of my auto-loan with JD ByRider & their finance company, CNAC. - After reading this credit repair book, I'm considering to file bankruptcy, so they can't reposes the car, and I … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I am going to file achpter 7 bankruptcy. How quickly can I
Hi I am going to file achpter 7 bankruptcy. How quickly can I borrow form my 401k after I filed the case with the court … read more
KLAW
KLAW
Juris Doctorate
2,115 satisfied customers
If my wife decides to file bankruptcy while we are legally
If my wife decides to file bankruptcy while we are legally married even though I don't want to how can that affect our divorce and my finances?… read more
Ray
Ray
Lawyer
Doctoral Degree
32,653 satisfied customers
Am considering Chapter 13, but the atty I spoke with charges
am considering Chapter 13, but the atty I spoke with charges $3000, and I cant afford that … read more
Ray
Ray
Lawyer
Doctoral Degree
32,653 satisfied customers
I filed chapter 13bk in Georgia in October of 2017 and have
I filed chapter 13bk in Georgia in October of 2017 and have yet to be confirmed. The reason I filed was to save my home. Since filling I have been ae to come up with the money to pay the house off. My… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
Civil court - Signing up envelopes before receiving loans -
civil court - Signing up envelopes before receiving loans - is that enough proof + recordings where that person states that I loaned that money and he is not going to give me them back?… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
I filed for bankruptcy and one of the creditors is
I filed for bankruptcy and one of the creditors is objecting. I am defending myself pro se but need a lawyer to review what I wrote. Where can I find an attorney with a background in litigation and ba… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
In December of 2017, my folks put their home in my name to
In December of 2017, my folks put their home in my name to protect it from the nursing home. I need to file bankruptcy now because of a legal issue that came up that financially ruined me. What do I d… read more
Ray
Ray
Lawyer
Doctoral Degree
32,653 satisfied customers
I foolishly borrowed 26k from LendingClub in an attempt to
I foolishly borrowed 26k from LendingClub in an attempt to day trade equities and options. I lost all of the money, my job, and need surgery on my back soon and am thinking of filing Chapter 7.Apart o… read more
INFOLAWYER
INFOLAWYER
Partner
Doctoral Degree
58,800 satisfied customers
I feel like our attorney is not being open with me. Things
Hi! I feel like our attorney is not being open with me. Things keep coming up as problems that he knew about from the beginning. Additionally,now our tax refund is being help and we were told we would… read more
Mark Anderson
Mark Anderson
Attorney
Doctoral Degree
10 satisfied customers
My friend's husband is filing a bankruptcy. They live in. He
My friend's husband is filing a bankruptcy. They live in Washington. He said it will not affect her. Is that possible?… read more
Barrister
Barrister
Attorney/Landlord/Realtor
Doctoral Degree
37,115 satisfied customers
Law Educator, Esq. (ONLY) (This is on motion to strike) I am
Law Educator, Esq. (ONLY) (This is on motion to strike)Good morning, I am thinking I should make my motion to strike two issues instead of one issue with two subtitles that I have now. Immediate below… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
I received a chapter 7 discharge in a no asset case. I
I received a chapter 7 discharge in a no asset case. I didn't include a Bank of America account that I recently saw on my chexsystems report. Does that mean it won't be discharged. FYI I live in Ohio… read more
KUMI95
KUMI95
Attorney
Doctoral Degree
17 satisfied customers
In a 341 meeting, how should it last? What is the Average
in a 341 meeting, how long should it last?What is the Average time with no assets to show.… read more
socrateaser
socrateaser
1,031 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x