help w/chapter 7 question
i owe about 300,000 to credit cards and bank loans on business that went south
my house is now deeded to my parents for about 2 years now. the house is willed to me in case somthing ever happens to them.
my attorney said that i should not file for chapter 7 until about 6 years later becouse its still "HOT". and they can reverse the deed and take the home
my question is should the house be willed to my children who are 13. and have me as a power of attorney or custodian? my fear is if in an event somthing happens to my parents and the house goes to me can the house be taken by creditors?
ty
my house is now deeded to my parents for about 2 years now. the house is willed to me in case somthing ever happens to them.
my attorney said that i should not file for chapter 7 until about 6 years later becouse its still "HOT". and they can reverse the deed and take the home
my question is should the house be willed to my children who are 13. and have me as a power of attorney or custodian? my fear is if in an event somthing happens to my parents and the house goes to me can the house be taken by creditors?
ty