Thursday, 16 January 2014

If i am afraid a lawsuit is about to be filed against me in the state of nc, can i transfer my assets to my child in order to protect them?(...

Question

If i am afraid a lawsuit is about to be filed against me in the state of nc, can i transfer my assets to my child in order to protect them?(cars, business, and home)



Answer

A transfer like this is deemed to be a fraudulent conveyance. If I were you, I would consult attorney before you make any transfers like this because transfers made to an insider like your child for no money are going to raise red flags.

I charge $50 for a 30 minute phone consult and give free email consults. Please contact me at [email protected]/* */ if interested.



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