Homestead Exemption

An estate of home, not exceeding $300,000 in land and buildings, is exempt.  This exemption is offered to the owner or owners of a home, or all who rightfully possess the premise by lease or otherwise so long as the homestead is used as a principal residence.  To see this statute, click here.

Life Insurance and Annuities

If stated in the policy, proceeds from a policy of life or endowment insurance are exempt.  To see this statute, click here.

If stated in the policy, proceeds and payments from any annuity contract are exempt.  To see this statute, click here.

IRA

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

Corporate Protections

Charging Order

Under Rhode Island’s Partnership Act, a judgment creditor may charge the debtor-partner’s partnership interest with payment of any unsatisfied amount with interest.  To view this section of the statute, click here.

Under Rhode Island’s Limited Partnership Act, a judgment creditor may charge the debtor-partner’s partnership interest with payment of any unsatisfied amount with interest.  The judgment creditor has only the rights of an assignee of the debtor-partner’s partnership interest.  To view this section of the statute, click here.

Business Acts

1.      Rhode Island Business Corporation Act

a.      To view this Act, click here.

2.      Rhode Island Limited Liability Company Act

a.      To view this Act, click here.

3.      Rhode Island Partnership Act

a.      To view this Act, click here.

4.      Rhode Island 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.