Confused About Waiting 2 Years

[krispy12]

I talked with a bankruptcy lawyer today & told him about the inside transfer my dad did. My dad had 100K deposited under my name & withdrew it later. He did this around August & I was told I needed to wait 2 years from online sources to file since it was a transfer from my family.

This lawyer said that was tax evasion & my dad will go to jail. He said that I don't need to wait 2 years & I have exempt & non-exempt property. He kept saying that I don't need to worry about it & that it all depends on what the judge says.

He didn't seem helpful & his services were on the cheaper side. Meanwhile I will talk to another lawyer but does what this lawyer said seem right? I am confused.

[Cali]

How is it tax evasion, was taxes not paid on the money?

[hnhlvr]

Maybe the money was deposited into Krispy's account so he wouldn't have to pay taxes?

Be sure to get more opinions! I had one attorney tell me to prepay months worth of rent so I wouldn't have to give all my $ to my creditors. I later looked up that info and found that in my state you cannot have any prepaid rent and if I had tried that the money would have been taken from my rental agency!

[Cali]

When that amount of money is deposited into an account, the bank has to notify the IRS. So I don't see how the taxes weren't paid, someone had to be notified if it was that amount.
And the Dad took it out, did he keep it at the house or put it in another bank?

Maybe the money was deposited into Krispy's account so he wouldn't have to pay taxes?

Be sure to get more opinions! I had one attorney tell me to prepay months worth of rent so I wouldn't have to give all my $ to my creditors. I later looked up that info and found that in my state you cannot have any prepaid rent and if I had tried that the money would have been taken from my rental agency!

[AngelinaCat]

I remember the discussions on this several months ago, and as I recall the advice was to wait at least six months to a year before filing so this transfer would drop off the screen. Then others chimed in and said that the trustee could look back as much as two years, so that is where I think the 'two years' came from.

But another unfortunate poster here has been asked for 13 years of records! So it depends on the district and the trustee.

[krispy12]

I'll be seeing another lawyer tomorrow so I'll see what he has to say. It was just confusing when he didn't know what I was talking about with waiting 2 years for an inside transfer. Like I was talking another language or something.

[krispy12]

The lawyer I saw yesterday said I had a 1 year lookback period & that was all that was needed. I'm still going to go to a few more consultations because I want to make sure.

I didn't actually talk with the lawyer but the legal assistant. Whenever there was a difficult question, she'd step out of the room & go ask the bankruptcy lawyer.

[JRScott]

That's because she's not allowed to give legal advice, the lawyer can though and she can relay what he says

[ready2puke]

Whew...I'd want to talk directly to the attorney and not play "telephone". Remember that game? Well since this isnt a game I wouldnt trust anyone but the attorney and even then I'd get several attorneys opinions...but thats just mine...