Georgia

In the state of Georgia, the statutory creditor protections are poor and offer only nominal protection to homestead, and the cash values of life insurance policies. However, Georgia does protect annuity contracts, IRAs, and many pension plans.

Hawaii

The state of Hawaii is becoming known as one of the leading domiciles for domestic captive insurance company formations. Other then this, considering the exorbitant price of property throughout the Hawaiian Islands, the homestead protections afforded by Hawaii’s statutes are laughable. However, like other states, properly structured life insurance policies and annuity arrangements can be exempt.

Idaho

There is nothing remarkable about the state of Idaho from the viewpoint of a debtor-creditor. Idaho offers basically the same poor creditor exemptions of most other western states, which are low homestead, protection for properly structured life insurance, and little protection for annuities

Illinois

The state of Illinois has a mixed offering bag from an asset protection perspective. The homestead is given only nominal protection. However, the cash value in a properly structured life insurance and annuity contract can be protected.

If you would like more information regarding asset protection, trusts, family limited partnerships or the subject of this article please call or email our office.