How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Buachaill Your Own Question
Buachaill, Lawyer
Category: Republic of Ireland Law
Satisfied Customers: 10539
Experience:  Barrister 17 years experience
Type Your Republic of Ireland Law Question Here...
Buachaill is online now
A new question is answered every 9 seconds

I transferred my home into a trust kids in 2009. If I go

Customer Question

I transferred my home into a trust for my kids in 2009. If I go bankrupt now is the house secure from the assigner in bankruptcy?
Submitted: 2 years ago.
Category: Republic of Ireland Law
Expert:  Buachaill replied 2 years ago.

1. Yes, if you go bankrupt now, your former home is now safe from the assignee in bankruptcy. This is because there is only a five year clawback for voluntary transactions (no value given) when a person becomes bankrupt. As more than five years has elapsed since you transferred the house into trust, these clawback provisions are not applicable should you go bankrupt today.