If a debtor is being represented in a bankruptcy they should allow their bankruptcy attorney to work for them, and the only way their attorney is able to provide adequate representation is if they know all the details about the debtor’s case. If a debtor chooses to omit certain transactions or details then the attorney will not be able to advise appropriately regarding those transactions which could be problematic in the case.
When speaking with your attorney, one should not ask: what is the “correct” answer to the question, but rather, what is the “answer” to their question. Facts are stubborn things. And, although you may see the transaction as rather complex, the law may see the transaction as a simple fact. Anytime a potential debtor is transferring money, property, or assets of any kind, right before filing the bankruptcy, that transaction will be scrutinized. If your attorney is not aware of a transaction, which could have been easily examined, discussed and resolved, it may become a point of contention in your bankruptcy.
Even if you can rationalized the transaction, and you have decided you do not want the transaction to be part of the bankruptcy, just simply omitting information from your attorney does not accomplish keeping that transaction out of the bankruptcy. In fact, it makes it worse because it is likely your omission will be discovered by the bankruptcy estate, and then neither you nor your attorney will be prepared for the consequences of that omission.
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Your bankruptcy attorney is there to help you, and to represent you, but you do have to provide them with all the facts so they are able to do the job you have hired them to do. Remember, it is not about having the correct answers, it is just about providing the facts to your attorney so they can provide you with adequate counsel. Contact the attorneys at LifeBackLaw and see us at www.LifeBackLaw.com and let us help you get your life back.