North Dakota

North Dakota allows about $80,000 worth of protection to homestead as well as to properly-structured life insurance arrangements.

Ohio

Ohio is typical of most Midwestern states to the degree as real property is given only token protection from creditors, and life insurance would be protected if structured properly.

Oklahoma

The state of Oklahoma is debtor friendly as it offers an unlimited homestead exemption. Oklahoma has chosen not to be part of the federal bankruptcy exemption structure, and its debtors must follow the state bankruptcy exemptions. Furthermore, the state of Oklahoma has very well-defined limited partnership and limited liability company law. And the existence of several Indian nations in Oklahoma creates very unique business planning opportunities, but everyone should beware of Indian banks because, more often then not, they are shams.

Oklahoma is the first state to adopt a statute which authorizes the creation and funding of self-settled asset protection trusts that can be revoked by the grantor.

Oregon

The state of Oregon real property protection is low, but it does protect properly structured life insurance arrangements.

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.