Homestead Exemption

The Homestead exemption may not exceed $100,000.  To see this statute, click here.

The Homestead consists of the dwelling home, mobile home, and all appurtenances in which the owner resides.  To see this statute, click here.

Life Insurance and Annuities

Proceeds and avails (cash surrender value) of policies of life insurance are exempt.  To see this statute, click here.

A policy of group life insurance and the proceeds payable from such policy are exempt.  To see this statute, click here.

The benefits, rights, privileges, and options which under an annuity contract due or prospectively due the annuitant are exempt up to $350.  Any amount above $350 is subject to creditor’s claims after an evaluation by the court taking the reasonable requirements of judgment debtor and his family, if dependent upon debtor. To see this statute, click here.   § 33-15-514(1)(c)

In a bankruptcy proceeding the beneits, rights, privileges, and opitions under an annuity contract are exempt; however, that portion of contributions made within one year before the filing of bankruptcy that exceeds 15% of the debtor’s gross income are excluded.  To view this statute, please click here.  § 31-2-106(3)

IRA

ERISA qualified benefits, IRAs and Roth IRAs are exempt.  To see this statute, click here.

In a bankruptcy proceeding the above are exempt; however, that portion of contributions made within one year before the filing of bankruptcy that exceeds 15% of the debtor’s gross income are excluded.  To view this statute, please click here.  § 31-2-106(3)

Disability

Proceeds and avails of any disability insurance policy and of provisions providing benefits on account of the insured’s disability are exempt.  To see this statute, click here.

Corporate Protections

Charging Order

A judgment creditor may seek to charge the partnership interest of a debtor-partner with any unsatisfied amounts with interest.  This charging order treats the judgment creditor as an assignee of the debtor-partner’s partnership interest.  To see this section of the Limited Partnership Act, click here.

Business Acts

1.      Montana Business Corporations

a.      To view this Act, click here.

2.      Montana Professional Corporations Act

a.      To view this Act, click here.

3.      Montana Limited Liability Company Act

a.      To view this Act, click here.

4.      Montana Close Corporation Act

a.      To view this Act, click here.

5.      Montana Limited Partnerships

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.