Hawaii Asset Protection Summary

Homestead Exemption

If you are 65 years of age or older one parcel of property is exempt up to $30,000; for everyone else not 65, the Homestead exemption is $20,000.  To see this statute, click here.

Life Insurance and Annuities

Life insurance proceeds are exempt if for the benefit of the insured’s spouse or reciprocal beneficiary.  To see this statute, click here.

Proceeds from any life or endowment policies or annuity contracts payable to spouse, child, parent, or other dependent of the insured are exempt.  To see this statute, click here.

Policies of group life insurance and the proceeds payable are exempt.  To see this statute, click here.

Disability

The proceeds of contracts of accident, health, and sickness insurance and of provisions providing benefits on account of the insured’s disability, which are supplemental to life insurance policies or annuity contracts are exempt.  To see this statute, click here.

IRA

Debtor’s right to any retirement allowance or any other right under any retirement plan under IRC 1986 is exempt.  Any contributions made within 3 years of filing bankruptcy are not exempt.  To see this statute, click here.

Corporate Protections

Charging Order

As a judgment creditor’s exclusive remedy, a charging order may sought placing a lien on the debtor-partner’s transferable partnership interest.  This order will charge the debtor-partner’s partnership interest with payment of any unsatisfied debt.  To see this portion of the Uniform Limited Partnership Act, click here.

Business Acts

1.      Hawaii Business Corporations Act

a.      To view this Act, click here.

2.      Uniform Limited Liability Company Act

a.      To view this Act, click here.

3.      Uniform Limited 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.