Can I transfer my assets to a friend/relative before I file for Bankruptcy?

NO. This is something we call a “fraudulent conveyance”, do not do this, you can get yourself in big trouble. Often right exemption planning ( where you legally arrange your assets to take full advantage of your allowable exemptions) can legally achieve the same results that you are trying to through a fraudulent conveyance. So don’t make a mistake that will cost you a lot more later on. For more information on Utah bankrupcy click HERE to visit my firm.