One problem I sometimes run into in representing bankruptcy clients is when they tell me that they have recently transferred property out of their name into someone else’s name, things like signing over some real estate or signing over a car without getting fair value back, or even paying for a child’s college or making a large payment on a previous debt.  In Connecticut, any such transfer made within four years of filing (two years in the case of paying for a child’s college), has the potential of being set aside after you file, i.e., the bankruptcy trustee administering your case could go after the transferred property.  This is why if you are thinking about filing, don’t transfer any property or cash from you to someone else.  Don’t even add someone’s name onto the asset because now you have transferred part of your interest.  Transfers to family members and insiders are especially fraught, especially if done within the last year.  Luckily, there are many exceptions and issues to explore that may lessen the odds of the Court going after the property if you have already done so, and if your fact pattern lines up correctly.  If you are in need of filing for bankruptcy, and you have previously transferred property or money out of your name, feel free to contact Attorney Mark O. Grater in Groton, CT at 860-449-8059 to discuss the issues involved, or check out his web cite at www.graterlaw.com.