Gifts of Property Before Bankruptcy - KTRE.com | Lufkin and Nacogdoches, Texas

Gifts of Property Before Bankruptcy

NOTICE: The answers given are general information only and are not intended to be legal advice. You are advised to seek the services of a competent, experienced bankruptcy lawyer for legal advice about your specific situation.

Can I transfer or make a gift of any of my property to someone before I file a bankruptcy?

I do not recommend anyone transfer or give anything of value to someone before you file a bankruptcy without first seeking the advice of a competent, experienced bankruptcy attorney and fully disclosing to the attorney what you want to do and why. Any type of property transferred or given to another within one (1) year of a bankruptcy filing can usually be set aside or recovered by the Bankruptcy Trustee, sold and the money distributed to your creditors.

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