Posted on: 11th Dec, 2009 06:19 am
My father, who lives in Florida, has asked me if I would agree to transfer his business ownership into my name before he files bankruptcy and then transfer it back to his name after the bankruptcy so he won't get his business seized during the bankruptcy procedure. Is this legal or ethical or is it fraudulent? Should I agree to do this for my father, whom I love dearly, but don't want to do anything illegal for?
anyone with an interest in your father's company would assuredly protest this as a fraudulent transfer. you're smart to ask, because you don't need to get yourself into trouble to save his posterior.