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part of a trustees job is to ensure that any assets of the bankrupt person are fairly distributed to creditors if you were to sell or transfer an asset for less than its fair market value just before you went bankrupt it can be later declared void by your trustee this could result in the asset being seized and sold properly to ensure the proceeds would be split up evenly amongst your creditors the most common transactions that are reviewed by a trustee or when assets are simply given away particularly to friends or family if the trustee finds evidence of such a transaction not only would it be reversed but the duration of the bankruptcy may also be extended as a penalty if you are considering bankruptcy even if it is not going to happen for a few years you should not attempt to hide or dispose of assets unless they are solved for genuine reasons and for proper value sham transactions will be found out and penalized if you are considering bankruptcy and are not sure if a transaction yo