When people get into financial trouble, are facing law suits, and have thoughts of bankruptcy, the first inclination is to try to figure out how their assets can be protected. This is usually the greatest trap for individuals who do not seek competent professional advice. Attorney Charles Wynn has over thirty years of experience in representing debtors and creditors in Marianna, Panama City, and throughout Florida. Attorney Charles Wynn always advises that no person should make any transfer prior to consulting with him or another qualified professional. First, a transfer in contemplation of a Bankruptcy will deny the person a discharge in a Chapter 7 Bankruptcy. Secondly, it could be a third degree Federal felony. And, thirdly the transfer can be set aside.
One of the sadest moments in a client interview is to find out that the client followed his or her most trusted advisor’s advice by transferring or giving away an asset and having to tell that individual that he can never file a Chapter 7 and obtain a fresh start. In bankruptcy, all information is under penalties of Federal perjury so it is very important for all information to be accurate. One question requires the debtor to disclose all transfers within the two years prior to filing bankruptcy and many trustees question if there were any transfers within the four years prior to filing.
There are legal ways to protect assets and an individual must consult competent legal advice to avoid the above pitfalls. Mr. Wynn is licensed to practice before the Florida Supreme Court and all state courts within the state of Florida as well as the Federal District Court for the Northern and Middle District of Florida and the Fifth and Eleventh Circuit Courts of Appeal. If you find yourself exploring this area, you are strongly encouraged to make a confidential appointment with Attorney Charles Wynn to learn what you legally and safely can and should not do.