| Massachusetts Asset Protection Summary
Homestead Exemption The Homestead exemption is $500,000 for land and buildings; this exemption is available to the owners who occupy the land as a principal residence and those who rightfully posses the real property by lease or otherwise. To view this statute, please click here. Life Insurance and Annuities Life insurance policy proceeds are exempt. To see this statute, click here and here.
Life insurance proceeds for a married woman are exempt if the proceeds are for her benefit and that of her children. To see this statute, please click here. Group life insurance policies are exempt. To see this statute, please click here. Proceeds and benefits from group annuity contracts are exempt. To see this statute, please click here. IRA and Pensions
ERISA qualified plans are exempt. To see this statute, please click here. Pensions for certain employees, subject to Federal Employee Retirement Income Security Act of 1974, are exempt. To see this statute, please click here.
Disability Suits to recover necessaries aside, disability benefits, not exceeding $400 per week, are exempt. To see this statute, please click here. Corporate Protections Charging Order
Massachusetts does not use the term “charging order;” however, the statute still offers some of the protection generally stated in charging order statutes. The MA statute states, a “court may charge the interest of the debtor partner with payment of the unsatisfied amount of such judgment debt with interest thereon.” The debtor-partner’s rights regarding interest in the partnership are not affected by this statute. To see this statute, please click here. Business Acts
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. |
