Asset Protection Overview - State by State: Part Ten

Pennsylvania

The state Pennsylvania has no homestead protection, although property in tenancy by the entireties may be protected if only one spouse is sued. Pennsylvania also protects properly structure life insurance arrangements and some pension plans.

Rhode Island

Under its system, the state of Rhode Island does not offer homestead protection. However, there is exemption for properly-structured life insurance policies, as are IRAs and Employee Retirement Income Security Act (ERISA) qualified plans

South Carolina

The Palmetto State of South Carolina is the most progressive and aggressive state to develop captive insurance and related businesses. Otherwise, this state offers nominal homestead exemption, inconsistent protection for life insurance, and complete protection for annuity proceeds.

South Dakota

Debtors in South Dakota may only choose from the state bankruptcy exemptions.

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