Kilgore, TX asked in Bankruptcy for Texas

Q: Will a transfer of property to my children 8 months prior to filing Chapter 7 be a problem?

I owned an undivided 1/2 interest in my ex-husband's property from our divorce 15 years ago. I gifted it to my children 8 months ago so that it wouldn't have to go through probate at my death. Will this be a problem if I file for Chapter 7? I received no money and own no other property.

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1 Lawyer Answer
Michael Francis Barrett
Michael Francis Barrett
  • Bankruptcy Lawyer
  • Buffalo, NY

A: That is likely to be a problem as it will probably be considered a "fraudulent transfer". Speak to a local bankruptcy attorney for possible solutions, as there may still be a way for you to file that doesn't cause a problem for you or your children.

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