Colorado State Asset Protection Laws – Asset Protection Society

Colorado Asset Protection Summary

Homestead Exemption

If occupied as a home by the owner or the owner’s family, the homestead exemption is $60,000. If occupied as a home by an elderly or disabled spouse of an owner, or elderly or disabled dependent of an owner, the homestead exemption is increased to $90,000. To see this statute, click here.

Life Insurance and Annuities

If a policy of life insurance or annuity contract so states, proceeds of a life insurance policy are exempt. To see this statue, click here.

Group life insurance policies and proceeds are exempt. To see this statute, please click here.

Cash surrender value of life insurance policies are exempt up to $50,000 for writs of attachment and execution; however, for cash contributed within the forty-eight (48) prior to the writ of execution and attachment, the exemption is $0. To see this statute §13-54-102(1)(l)(I)(A), click here.

IRA

ERISA qualified plans, including IRAs and Roth IRAs, are exempt. To see this statute §13-54-102(1)(s), click here.

Corporate Protection

Charging Order

Judgment creditor of a LLC: The court may charge the membership interest of the member with payment of the unsatisfied amount of the judgment with interest thereon and may then or later appoint a receiver of the member’s share of the profits and of any other money due or to become due to the member in respect of the limited liability company and make all other orders, directions, accounts, and inquiries that the debtor member might have made, or that the circumstances of the case may require. Judgment creditor has only the rights of an assignee or transferee of the membership interest. To view this statute, please, click here.

Judgment creditor a Partnership: A judgment creditor may seek to charge the debtor-partner’s partnership interest with payment of any unsatisfied judgments. The judgment creditor will have the rights of an assignee of a partnership interest. To view this statute, please click here.

Business Acts

1. Colorado Corporations and Associations Act