Fraudulent Transfers

If you think that a person appointed with fiduciary duty has broken the law and their trust to you as a beneficiary, you might have grounds to begin a fraudulent transfers case. A person who steps into the role of any fiduciary job must be aware that they have an underlying responsibility to protect those funds for the interests of heirs and beneficiaries. It’s illegal to transfer those funds for any reasons outside of the best interests of those parties. When this happens, those parties can begin a claim of their own known as a fraudulent transfers case. Personal representatives could be held liable in these kinds of cases.

Do you need the services of a Pennsylvania fraudulent transfers lawyer?

A Pennsylvania fraudulent transfers attorney will answer your questions and provide you with a consultation when you may need it most. A Pennsylvania fraudulent transfers lawyer should be contacted as soon as possible after you believe there is a problem. Fraudulent transfers can occur in the state of Pennsylvania in a variety of different circumstances. The rule surrounds what to do with debtors and creditors. A transfer that is made or an obligation taken on by the debtor may be flagged as fraudulent. Whether the creditor's current claim arose after or before the described transfer is made or sometime before the debtor made the obligation, the debtor made this transfer or the debtor incurred the obligation and had intent to defraud, delay or hinder a creditor of the debtor without getting an exchange that is the equivalent value deemed reasonable for the transfer.

In the state of Pennsylvania there are statutory remedies to creditors when a debtor has acted to hinder creditors and there are several different factors identified in this specific law for scrutinizing transfers as being fraudulent to creditors. When it can be shown that a transfer was fraudulent, remedies available to a creditor include attaching the transferred property, voiding the fraudulent transfer or getting injunctions against the debtor's future disposition of assets.

This can ultimately play out in probate administration as well. The common fraudulent transfers are considered sham paper transfers or those in which a debtor tries to transfer as a legal title of the assets or property while still retaining the enjoyment and use of the assets or property. When it comes to corporate debtors, this can include the transfer of assets or property from a corporation to someone deemed an insider for what is less than fair market value. Another common fraudulent transfer is putting a property in someone else’s name to avoid a financial obligation. This is most frequently transferred to a family member or a spouse while still keeping use and enjoyment of the property or assets with the original owner.

This can be seen as a sham and may emerge in an estate planning or probate administration situation. Regardless of how it comes about, the support of an experienced fraudulent transfers lawyer in Pennsylvania will be necessary to sort out the details and to ensure that you have considered all relevant pieces of the puzzle. It can be very complicated to approach this process without the support of a lawyer who knows this landscape and knows the common challenges encountered by people who may find themselves suddenly in the midst of a major case. Your lawyer is there to help you and guide you through the process.

Find out whether or not someone has crossed the line and hire a lawyer if you need a release agreement regarding liability.