Social situations which were once known change. The issue eventually is not a change in the social condition it is a change in you and your perceptions. To know more visit to www.rafischerattorney.com

1. Lawyer Port St. Lucie FL
First, why is this relevant and why would a lawyer even talk about an insider? The reason this is
an important issue is because many debtors think it is appropriate to give away or sell items or
equitable interests to a family member or an associate without first discussing with their attorney
whether or not such a transaction would be an issue when considering filing for Chapter 7
Bankruptcy.
In general, the bankruptcy code was drafted to take into consideration the favoritism between
family members at the expense of other creditors. Further the Bankruptcy Code expanded the
definition of what an “insider” is to include, but is not limited to: relatives of the debtor; general
partners of the debtor and their relatives; corporations of which the debtor is an officer, director,
or person in control; officers, directors, and any persons in control of a corporate debtor and their
relatives; affiliates of the debor and insiders affiliates; and any managing agent of the debtor
Do not try to hide or inappropriately transfer assets prior to bankruptcy. Be honest with your
Bankruptcy Lawyer. Transferring a property for less than fair market value to an insider may
result in the transfer being avoided by the trustee and the asset liquidated.
If you have any questions about Bankruptcy, whether concerning this topic, Chapter 7
Bankruptcy, Chapter 11 Bankruptcy or Chapter 13 Bankruptcy and live in Port St. Lucie, Stuart
or Jupiter FL, please give me a call or click here to go to the contact page, fill out the contact
information and I will give you a call. The video below discusses the definition of an insider.
To know more visit to www.rafischerattorney.com