If you intend to file bankruptcy within the next year or so, you should not transfer property to a relative or family member in an attempt to shield it from bankruptcy and/or your creditors. Generally speaking, the U.S. Bankruptcy Trustee has the power to "avoid" or cancel the transfer of assets during a certain period of time prior to the bankruptcy filing, which is usually ninety (90) days. Additionally, if the transfer of assets occurs between the debtor and a family member, the U.S. Trustee can cancel the transfer if it occurred within one year of the debtor's bankruptcy filing. The property then must be transferred back to the debtor, and, assuming that it is non-exempt property, it will be liquidated by the U.S. Trustee and the proceeds distributed for the benefit of the debtor's creditors.