Legal Question in Bankruptcy in Massachusetts

Coveyance of retirement assets

During what period of time prior to a Chapter 7 bankruptcy filing date can one transfer retirement assets (IRA's, 401(k)'s, etc.) without the transfer being deemed a fradulent conveyance?

Also, if I pay certain credit-card debt with which I am current & not listing that creditor as a bankruptcy ceditor, would other listed bankruptcy creditors consider that a preference over their (the latter's interests?

Thank-you in advance for your consideration of these troubling & soul-searching questions.


Asked on 11/05/08, 11:56 am

1 Answer from Attorneys
Daniel Gindes Law Office of Daniel Gindes

Re: Coveyance of retirement assets

You really need to talk to an experienced bankruptcy lawyer in person. I would need to know more about the retirement account transfers to figure out the answer. In addition, payments to the credit cards you ask about may very well be prefernces depending on amount. I don't advise payment in these situations because your accounts will probably be closed even if you are current when you file.

Dan Gindes

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Answered on 11/05/08, 1:54 pm


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