Can I Transfer Assets to Family Before Filing Bankruptcy?

In this episode of Bankruptcy Through the Looking Glass, host Evan Mack sits down with Barry Levine, a seasoned Massachusetts bankruptcy attorney with over 40 years of experience. They delve into the complexities of transferring assets to family members before filing for bankruptcy, examining what the law permits and the potential pitfalls of fraudulent conveyances. Barry shares insights on how timing and consideration play crucial roles in these transactions, and he recounts real-life cases that highlight common mistakes and misconceptions. Listeners will gain a deeper understanding of how trustees uncover improper transfers and the consequences that can follow. This episode offers valuable advice for anyone considering asset protection strategies, emphasizing the importance of early planning and legal consultation.