Alaska Asset Protection Summary 

Homestead Exemption

The Homestead in Alaska is $67,500 for the principal residence of the individual or dependents of the individual.  If owned as tenants by the entirety or as tenants in common each individual is entitled to an exemption not exceeding an aggregate value of $67,500.  To see this statute, click here.

Life Insurance and Annuities

Unmatured life insurance and annuity contracts owned by the debtor are exempt.  However, if the debtor has accrued more than $12,500 then the creditor may seek a court order requiring payment of the accrued amount over $12,500 or the amount owed the debtor, whichever is less.

Proceeds of insurance are treated as earnings under § 09.38.030(b)(e)(3) and an individual debtor is entitled to an exemption of the individual debtor’s weekly net “earnings” not to exceed $480 per week or $1,750 per month.

Alaska Stat. §§ 09.38.025; 09.38.030 and Alaska Admin. Code Tit. 8 §9.030(d)(1)(2)  To see this statute, click here and here.

Corporate Protections

Charging Order

As a transferee of a partner or a judgment creditor’s exclusive remedy a charging order may placed on the debtor-partner’s partnership interest.  The charging order constitutes a lien on the debtor-partner’s transferable interest in the partnership.  To view this statute, click here.

Under Alaska’s Revised Limited Liability Company Act, a judgment creditor may charge the debtor-member’s limited liability company with interest of any unsatisfied amount of debt.  This is the judgment creditor’s exclusive remedy.  The judgment creditor has only the rights of an assignee of the debtor-members interest.  To view Act, click here.

Business Acts

1.      Alaska Business Corporations Act

a.      To view this Act, click here.

2.      Alaska Limited Liability Company Act

a.      To view this Act, click here.

3.      Uniform Partnership Act

a.      To view this Act, click here.

The Asset Protection Society makes every attempt to keep the material on its web-pages up to date and accurate. Having said that, The APS does not warrant the material on this site and you should ALWAYS seek out the advice of a local advisor in your state who can give you individual advice for your particular situation and confirm the status of your state laws.