It doesn't sound as if you have filed bankruptcy, so what you are saying is that if you did file, these funds would be subject to a homestead exemption (which isn't really clear from the facts you provided.) If you have filed bankruptcy, you need to disclose the funds and assert the exemption. I think a fairly strong argument can be made that this is a fraudulent conveyance, but proving a fraudulent conveyance is a difficult thing to prove, and you may get away with it. I strongly suggest you meet with a debtor's rights attorney.
If you'd like to discuss, please feel free to call. Jeff Gold Gold, Stewart & Benes, LLP 1854 Bellmore Ave Bellmore, NY 11710 Telephone -516.512.6333 Email - Jgold@goldstewart.com