Arizona Asset Protection Summary

Homestead Exemption

A judgment by a creditor will not become a lien holder on homestead property; homestead property is exempt up to $150,000.  This applies to any person, married or single, living in AZ who possesses an interest in real property in “one compact body,” a mobile home, condo, or cooperative unit. To see these statutes, please click § 33-964 and § 33-1101.

Life Insurance and Annuities

Proceeds and cash values to a surviving spouse or child are exempt.  To see this statute, please click here.

Group life insurance policies or its proceeds payable to the insured, or a beneficiary of the insured are exempt.  To see this statute, please click here.

IRAs

IRAs, under IRC of 1986, are exempt.  To see this statute, please click here.

Pensions

Some pensions are exempt.  To see this statuate, please click here.

Corporate Protections

Charging Order

Upon petition by a judgment creditor the court may enter, as the judgment creditor’s exclusive remedy, a charging order charging the debtor-partner’s partnership interest with payment of unsatisfied amount of the judgment.  To view this statute, please click here.

Under Arizons’s Limited Liability Company Act, a judgment creditor may ask the court to charge the member’s interest in the LLC with payment of an unsatisfied amount with interest.  The judgment creditor receives on ly the rights of an assignee of the member’s interest in the LLC.  This is the judgment creditor’s exclusive remedy.  To view this section of the Act, click here.

Business Acts

1.      Arizona Corporation Act

a.      To view this statute, please click here.

2.      Arizona Limited Partnership Act

a.      To view this statute, please click here.

3.      Arizona Limited Liability Company Act (Chapter 4 of Title 29 – Partnership)

a.      To view this statute, please 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.