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Fraudulent Transfers Lawyer

New York City Fraudulent Transfers Lawyer

One of the primary goals of estate planning is to protect your estate so that you, your spouse, your children and others you designate can benefit from it. Unexpected disasters or problems can interfere with achieving this goal. You can lose your job, developed a major illness or find yourself in a long-term care facility. So your estate planning needs to take such possibilities into account.

Fortunately, it’s possible with careful estate planning position yourself so you can survive these kinds of events with most of your assets still intact. However, you don’t want to do this in a way that causes your creditors to accuse you of making fraudulent transfers. To avoid this possibility, you should engage the services of a knowledgeable New York City Fraudulent Transfers Lawyer.

What Is a Fraudulent Transfer?
Fraudulent transfer describes a transfer of assets that is designed to prevent the payment of a creditor who would otherwise be able to collect a debt against those transferred assets. This often occurs when an individual is facing financial problems and considering bankruptcy. During bankruptcy, the trustee of the bankruptcy can seize debtor assets, selling such assets to pay off creditors.

Some people in financial trouble will use fraudulent transfers to keep assets from the trustee and the creditors in a bankruptcy. This is why the trustee will look closely at any recent transfers of property or sales of assets. Transferring assets to a so-called “insider” like a business partner or relative would be suspicious. Generally speaking, the following are factors the court will consider when determining if you committed a fraudulent transfer:

George FernandezGeorge Fernandez
14:16 30 Apr 24
Excellent 10 out of 10, Helped resolve my case. Jeremy explained everything and made everything easy to understand.
21:33 24 Apr 24
If you are looking for a lawyer that listens, is aggressive where needed, and holds his word above all else, Todd is the best pick. I had hired multiple attorneys prior to hiring the Spodek Group for a white collar case. The first thing that stood out to me was the cost, as anyone going through the process and dealing with the system, money was tight at that time - especially after hiring and firing multiple lawyers. The cost was not as high as others which was definitely a plus. Todd's intake process was also unlike other attorneys. He took the time to actually listen. He cared. He was trying to put himself in my shoes while I was explaining the situation to him and he really took the time to understand the whole situation. Other lawyers will give you 15 mins and send you a retainer agreement. Not Todd, I think he spent almost two hours with me as I was explaining everything.Not only was he great during the onboarding process, he was supportive and very informative through the entire plea process and eventually sentencing. After hiring him, I asked if I should hire a prison consultant, he told me to save my money as he would do everything they would. He was right and held up to his word. Later on I would hear from others that went with the prison consultants that they were a waste of money - I am glad I listened to Todd!When it came time for sentencing, two days prior to sentencing, the prosecutor tried increasing my proposed prison time by almost double - apparently a normal move. Todd and his team worked with me non-stop through the weekend prior to sentencing to ensure that I was not given additional prison time. Again, he took the time to listen and came up with a strategy to explain the case with great detail.Unfortunately, I did plead guilty as that was my best option. Todd and his whole team wrote up nearly 300 pages of a summary of what happened and why I should not be given prison time. If I breakdown the amount I spent with Todd versus the amount of work that I saw being done, I am shocked I was not charged four times as much. The other benefit was, a lot of criminal defense lawyers were just a single attorney with a paralegal or two. Todd had a team of people that I dealt with (5-7 people that I interacted with), but he was ALWAYS accessible. It would never take him more than an hour to reply unless he was in court.I was sentenced to prison and I was emotionally distraught. Todd and his team did whatever they could even after sentencing to make sure I was alright. He personally stayed in touch with my family to ensure I was doing alright and offered support to them. Most lawyers would consider the job complete at sentencing, not Todd.After prison, Todd still spent time with me to make sure I was on the right track and avoiding any potential risks in the future. He has also been giving advice on how to navigate probation etc and has not been looking at the clock for billing.Although I wish I had never been arrested in the first place, I am glad I had Todd and his team in my corner. Without them I likely would have had to spend a lot more time in prison than I did.Thank you, Todd, and the entire Spodek Law team, for helping turn what was a nightmare into a manageable situation!
Yelva Saint-PreuxYelva Saint-Preux
19:26 19 Apr 24
I am immensely grateful to the entire team at Spodek Law Group for their unwavering dedication and exceptional expertise throughout my case. From our initial consultation to the final resolution, their professionalism and tireless advocacy made all the difference. Their strategic approach and attention to detail instilled confidence in me every step of the way.Thanks to their hard work and commitment, we achieved a truly favorable outcome that exceeded my expectations. Not only did they navigate the complexities of my case with precision, but they also provided invaluable support and guidance during what was undoubtedly a challenging time. I cannot recommend Spodek Law Group highly enough, especially attorneys Todd Spodek and Claire Banks; they are beacons of excellence in the legal profession.YSP.
Katherine SunKatherine Sun
18:08 18 Apr 24
my lawyer is Alex Zhik. Efficient, patient and professional
Nun yaNun ya
17:48 18 Apr 24
Todd, Ralph and Alex are amazing. Helped my husband get from a double digit number with multiple charges to a single digit, by the time I blink he will be out. They very professional and help with all your needs. They dealt with my anxiety and worry very well and they understand that your family member needs to get home as soon as possible.
Keisha ParrisKeisha Parris
20:45 15 Mar 24
Believe every single review here about Alex Z!! From our initial consultation, it was evident that Alex possessed a profound understanding of criminal law and a fierce dedication to his clients rights. Throughout the entirety of my case, Alex exhibited unparalleled professionalism and unwavering commitment. What sets Alex apart is not only his legal expertise but also his genuine compassion for his clients. He took the time to thoroughly explain my case, alleviating any concerns I had along the way. His exact words were “I’m not worried about it”. His unwavering support and guidance were invaluable throughout the entire process. I am immensely grateful for Alex's exceptional legal representation and wholeheartedly recommend his services to anyone in need of a skilled criminal defense attorney. Alex Z is not just a lawyer; he is a beacon of hope for those navigating the complexities of the legal system. If you find yourself in need of a dedicated and competent legal advocate, look no further than Alex Z.
Taïko BeautyTaïko Beauty
16:26 15 Mar 24
I don’t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and that’s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now that’s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words can’t describe how grateful I am to have the opportunity to work with this team. I’m very satisfied, very pleased with their performance, their hard work, and their diligence.Thank you team!
K MarK Mar
01:37 25 Jan 24
I recently had Spodek Law Group represent me for a legal matter in NYC and I am thoroughly impressed with their services.Alex Zhik secured the best possible outcome for my case.It was a seamless journey from the initial consultation to the resolution of my legal matter. From the moment I spoke to Todd about my case, his enthusiasm to help was evident, setting a positive tone for the entire experience. The efficiency and professionalism displayed by the team is commendable.A particularly noteworthy aspect of their service is their user-friendly portal to upload your documents/evidence. This not only simplified the process, but showcases their commitment to streamline the client experience.Lastly, in an industry where legal fees can often be a concern, I found their pricing to be very reasonable, making needing legal assistance feel accessible and stress-free.I am grateful for their support and wouldn't hesitate to turn to them again in the future.

• Was it an insider transaction?
• Did you still maintain control and possession of the asset?
• Did you attempt to hide the transaction?
• Was a creditor threatening to sue you prior to the transaction?
• Was a sizable proportion of your assets involved in this transaction?
• Did you attempt to flee after making the transfer?
• Was the valuation of the asset in the transaction reasonable?
• Had you become insolvent, or did this transaction push you into insolvency?

Fraudulent Transfer Consequences
The primary consequence of engaging in a fraudulent transaction is the possibility that the court may well reverse that transaction. This is highly likely if the individual receiving the asset was aware of the fraudulent transfer. However, if the new owner of this asset did not know that your creditors had prior claims on that asset, then this buyer will most likely be allowed to keep his or her property.

How to Legally Protect Assets
Your overall estate plan can include a sound – and perfectly legal – means for effectively protecting your assets from any future creditors that avoids any suggestion of fraudulent transfer. However, you cannot use this approach to evade your current creditors. And irrevocable living trust is one way to transfer assets in order to protect them in the future. Such a trust holds onto an asset for the benefit of someone else.

To create such a trust you – the grantor – would shift assets into the trust, making it the owner of that asset. An irrevocable trust has a trustee – someone other than your self – to oversee it. The terms of the trust cannot be changed by you. This means any future creditors cannot touch them. Yet you can still enjoy the benefits offered by such assets. For instance, you might put your home in the trust so that it can be used by your family in the future and you in the present.

Revocable trusts are much less effective estate planning technique if you are attempting to protect your assets while avoiding any appearance of fraudulent transfers. With this type of trust, you as the trustee have the right to alter or revoke the trust. You can at some future time dissolve it, and even while it is in force you have virtually full control over your assets.

To avoid the possibility of engaging in a fraudulent transfer, you should contact Raiser & Kenniff, PC at 1-888-979-9566 to speak to a knowledgeable and experienced New York Fraudulent Transfers lawyer. You can also reach us online to schedule a free consultation about your estate plan.

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