If I am in bankruptcy can I assign my shares to my sister? How? 13 Answers as of August 21, 2015

Can bankruptcy law prevent me from assigning my share of my parents estate to my sister? My bankruptcy may deter the sale for months.

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The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
Not during the bankruptcy.
Answer Applies to: New York
Replied: 8/21/2015
Ronald K. Nims LLC | Ronald K. Nims
You can only assign an asset if the trustee has abandoned it. Basically, you need to get the trustee's permission.
Answer Applies to: Ohio
Replied: 8/21/2015
John W. Lee, PC
John W. Lee, PC | Kim A. Lewis
You cannot transfer your interest in property while you are in bankruptcy.
Answer Applies to: Virginia
Replied: 8/19/2015
Janet A. Lawson Bankruptcy Attorney
Janet A. Lawson Bankruptcy Attorney | Janet Lawson
You may not transfer assets before or after the case is filed. If you don't have a lawyer I suggest you get one.
Answer Applies to: California
Replied: 8/19/2015
Musilli Brennan Associates PLLC
Musilli Brennan Associates PLLC | John F Brennan
There are procedures to reject an inheritance, in which case the will or the laws of the state will determine who would be the recipient of what would otherwise be your share. Once you have done so you must realize that the inheritance is totally gone and there is no means by which you could re-collect it post filing and that any agreement which would allow you to do so would be considered to be a fraud on the bankruptcy court.
Answer Applies to: Michigan
Replied: 8/19/2015
    Eranthe Law Firm
    Eranthe Law Firm | Cate Eranthe
    *Please go see a knowledgeable local bankruptcy attorney who can discuss all the factors involved and advise you. If you already have an attorney talk to him or her.* It sounds like you might be on the verge of committing fraud or attempting to hide assets in a case. *This is a BIG mistake and could cost you your assets, your bankruptcy discharge, your liberty or all of the above.* If you transfer assets that are part of the bankruptcy case then the Trustee will simply sue your sister and get them back. They might also challenge your discharge. You might also be put in a federal prison. DO NOT DO IT. There aren't enough facts in your question to know if the inheritance is part of the estate or not but from the sound of your words it seems like it is.
    Answer Applies to: California
    Replied: 8/19/2015
    D.J. Rausa, Attorney at Law | D.J. Rausa
    Any transfer of property to a family member would be considered a fraudulent transfer and the trustee will then go after your sister for the return of the property transferred.
    Answer Applies to: California
    Replied: 8/19/2015
    GARCIA & GONZALES, P.C.
    GARCIA & GONZALES, P.C. | Richard N. Gonzales
    Seek the advice of experienced counsel. Do not be penny wise and pound foolish! You will have to pay for the advice. The old adage applies - "pay me now or pay me later". Good luck!
    Answer Applies to: Colorado
    Replied: 8/19/2015
    A Fresh Start
    A Fresh Start | Dorothy G Bunce
    What you are proposing to do is to transfer property that belongs to your bankruptcy estate to an ?insider? in order to deprive your creditors of their legal right to be paid through your bankruptcy. When you file bankruptcy, you no longer own anything, you only own what the court decides is protected by state exemptions. If you try this stunt outside of bankruptcy, it can be a criminal violation called a fraudulent transfer. Hope you enjoy watching ?Orange is the New Black? about life in prison.
    Answer Applies to: Nevada
    Replied: 8/19/2015
    Richard B. Jacobson & Associates, LLC | Richard B. Jacobson
    Yes. If the effect of the transfer is to remove non-exempt property from the bankruptcy estate, then the transfer could be a "fraudulent transfer" and the trustee could undo it. In some cases it could also be a federal crime. So.,, don't do any such thing without first conferring with an experienced bankruptcy lawyer. He would just.
    Answer Applies to: Wisconsin
    Replied: 8/19/2015
    Mauritz Van Niekerk, Attorneys at Law
    Mauritz Van Niekerk, Attorneys at Law | Christiaan van Niekerk
    No you cannot do anything the trustee does not know about.
    Answer Applies to: New York
    Replied: 8/19/2015
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