Louisiana Asset Protection Summary
Homestead Exemption There is a $25,000 Homestead exemption. A homestead consists of the residence occupied by the owner and any appurtenances on the land. Within a municipality there can be no more than 5 acres of contiguous tracks or, if outside the municipality, no more than 200 acres of land. To view this statute, click here. This exemption extends to a spouse or dependent still residing in the homestead. To see this statute, click here. In cases of catastrophic injury or terminal illness the exemption is the full value of the homestead. To view this statute, click here. Life Insurance and Annuities Proceeds and avails of policies of life insurance are exempt. These are also exempt from creditors of any beneficiary, assignee, or the estate receiving the proceeds and avails. To see this statute, click here. In bankruptcy proceedings cash surrender and loan values exceeding $35,000 are not exempt if policy or contract was issued within nine months of filing. To see this statute, click here. In bankruptcy proceedings cash surrender and loan values exceeding $35,000 are not exempt if policy or annuity contract was issued within nine months of filing. To see this statute, click here. IRA
ERISA qualified benefits, including IRAs and Roth IRAs, are exempt. To see this statute, click here. Miscellaneous
Proceeds of any gubernatorially declared disaster are exempt to the extent the asset damaged was exempt. To see this statute, click here. Corporate Protections Business Acts
1. Louisiana Business Corporations Law a. To view this statute, click here. 2. Louisiana Limited Liability Company Act a. To view this Act, click here. 3. Louisiana Limited Liability Partnership a. To view this statute, 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. |