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Can I protect my families assets by transferring them all to

Customer Question
my wife prior to the...
can I protect my families assets by transferring them all to my wife prior to the bankruptcy and then filing for divorce?
Submitted: 1 year ago.Category: Bankruptcy Law
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Answered in 1 hour by:
5/16/2016
Bankruptcy Lawyer: DrakeLAW, Attorney replied 1 year ago
DrakeLAW
DrakeLAW, Attorney
Category: Bankruptcy Law
Satisfied Customers: 973
Experience: Attorney at Drake Law Firm PLC
Verified
Hello and welcome to JustAnswer, my name is ***** ***** I am an attorney. Please note:This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. This question and response may be viewed by other parties as noted in JA’s terms of service. By continuing, you confirm that you understand and agree to these terms. By continuing, you confirm that you understand and agree to these terms.No, that is actually the worst thing you can do. If you did that and then filed, the trustee could use provisions of the Bankruptcy Code to take those assets from your wife. However, if you get divorced that could possibly be avoided. Do you plan on divorcing anyway or are you thinking you would do it just to try and preserve assets through a bankruptcy?
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Customer reply replied 1 year ago
I am facing a business bankruptcy and don't want to take down our family assets, would only be getting divorced to shelter all current assets in my wife's name and when the dust settled get remarried.
Bankruptcy Lawyer: DrakeLAW, Attorney replied 1 year ago
I am sorry to hear about the business bankruptcy. Why are you thinking the business bankruptcy may lead to some personal liability that could take down the family assets? (I need to understand a little more).
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Terry L.
Terry L.
Terry L., Attorney
Category: Bankruptcy Law
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