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Transfers
Potential debtor owns real property with estranged wife. He has a 401k
that roughly equals his share of the house. Dissolution has been filed
and they are negotiating. If he transfers his interest in the real
property to her in exchange for her waiving any claim to his retirement
and then files will he be opening himself to Trustee/creditor
claims. The transfer will effectively remove all of his assets from
administration in bankruptcy. It seems that if the Property settlement
agreement is executed and reduced to a judgment in the state court that
that is binding upon the bankruptcy court. As always we want to avoid
those messy entanglements. Any thoughts much appreciated.
David Candaux
The post was migrated from Yahoo.