Legal Screwing:transfer assets/max out credit/claim bankruptcy

Kind of crazy and I guess illegal…anyways… parents are getting old but still have great credit and a couple hundred thousands they can get in credit cards and credit lines…

I was thinking for the next couple years or so… for them to slowly get more credit cards and lines… and have them lined up…

transfer all their assets to myself and sister… then go ahead and max out their credit and then claim bankruptcy and they dont really care either because they are old anyways and dont need the credit.

Not saying I’m going to do this because it seems ethically wrong… but it just ran through my mind and wanted to post it, to see what you guys think?