Do Not Transfer Your Property before Your Bankruptcy
I wanted to write an article on this topic because it is a common idea among potential clients when at our initial meeting. Usually, it starts with a question, "Should I transfer __________ to my relative for free so that I don't lose it in the bankruptcy?" My answer to this is always no. Here is why: First, you lose your right to exempt (and keep) property that is no longer owned by you. Exemptions are provided under California Law for specific categories of property that