<prompt> Human: My parents have never been great with their finances. They have filed for bankruptcy once before when i was very young and are in the same position once again.To make a long story short, they are incredibly underwater in their home Owe about 90k and the market value is about 10k. They moved out of this home and in with my grandmother in hopes of being able to do a short sale or something similar, but not surprisingly, with the massive difference in value, it was a no go. Their lawyer has since provided them with two options: Foreclose on the house or file for Chapter 7 Bankruptcy.This is the part where I come in, I used to operate a small business along with my father. We have since closed up shop, but still have a bit of equipment sitting in an enclosed trailer for storage. Most of the equipment in the trailer was purchased while I ran the business and has been claimed on my taxes. However, one valuable item that was purchased by my father years ago when he was more active was the trailer in which the equipment sits.My father would like to keep the trailer for storage in the event that we want to start back up in the business. Brand new, the trailer is probably valued between 4,000 - 5,000. With its age Early 2000s - 2001 maybe? and some maintenance that needs to be done on it, I assume the value is less maybe 3k? but still obviously worth something.With that in mind, my father came up with the idea of transferring ownership title, etc. over to me. According to him and his lawyer, as long as the transfer happens 30 days before filing and because its not worth all that much money, it should be a non-issue.Personally, Im not comfortable with this - seems like it could raise a red flag and get my father into trouble I cant imagine i would be on the hook for anything except maybe giving the trailer back, so to speak, but Im unsure of that too.My question is, what kind of implications are there for him and me if we go through with this? Am I making something out of nothing? Or is this something I should advise my father against? Ive thought about discussing this with an attorney, but frankly do not want to spend the money to discuss this if there is no reason to after all, i can just refuse my fathers idea. Id like to help, but not if it could put him or myself at risk. Ive found various answers that are around this topic; everything from the possession being reversed to a rejected bankruptcy claim to prison time for my father if he omits the information of the transfer; but nothing specific to my situation.Thank you for any help! And if this is better suited in another subreddit, please accept my apologies and let me know!TL:DR - Dad wants to file for bankruptcy and give me a trailer worth 3-4k. Whats the worst that could happen?Thanks!Edit: Thanks to everyone for your advice. I think its a fair consensus that this is a bad idea. Ill be sharing these thoughts with my father and asking to speak to his attorney with him to find another possible avenue that isnt so sketchy.Edit 2: Ended up talking to the lawyer that is representing my parents and found out, that in fact, he advises against what my dad suggested. I explained my concerns - fraud, getting their case thrown out, prison time, etc. and he agreed that those were distinct possibilities. Apparently he was under the understanding that my dad was going to try to SELL this trailer to another individual and use the income toward resolving debt. Obviously I heard a totally different story from my father that was totally fabricated. He even suggested that I made this a bigger deal than what it was - to which I responded if it wasnt a big deal, why were you even worried about transferring it to me - the other end was silent.. Needless to say, Im fuming and have absolutely rejected my fathers proposition. Let this be a lesson to always trust your gut, even when dealing with family. Thanks for the lookout though redditors - Id much rather be pissed than a Felon.  <response>: Do not be complicit in fraud. Always go with your gut; if something feels off, it usually is. 