Debtors may also not appreciate the social embarrassment that may arise when a creditor attempts to reverse a charitable gift as a fraudulent transfer, particularly if it is their local Church.
Buffett, however, has developed a habit of giving away billions of dollars each year via the transfer of Berkshire Hathaway stock to charitable foundations.
It includes outright gifts and charitable donations, sales of assets for less than fair market value (which constitute a transfer of the amount by which compensation received falls short of asset value), and forgiveness of debt.