Total Bankruptcy

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I would like to give my grandson who has filed for bankrupcy a 5year CD. Would this be attached or reclaimed by the government since he ows IRS money?

Thank you.

Thanks for the question.

As a general rule, you should wait to do any transfers until after the bankruptcy estate is closed. Assets received while the estate is open can arguably be seized by the bankruptcy estate. Of course, every situation is different and you should consult with a local bankruptcy lawyer for specific direction. I would recommend that your grandson consult with his bankruptcy attorney for direction. For a list of common mistakes made in bankruptcy, you can visit http://www.totalbankruptcy.com/bankruptcy_mistakes.htm