Asset Protection Society

Protecting Your Net Worth

Home West Virginia State Asset Protection Laws

West Virginia Asset Protection Summary

Homestead Exemption

The Homestead exemption is $25,000.  This is available for property that the debtor or a dependent of the debtor uses as a residence or a burial plot.  To see this statute, please click here.

Life Insurance and Annuities

Proceeds and avails of life insurance policies are exempt.  To see this statute,

click here.

Group life insurance proceeds are exempt for creditors.  To see this statute, click here.

IRA and Annuity

ERISA qualified benefits, including IRAs, are exempt if needed for support.  To see this statute, click here.

Corporate Protections

Charging Order Protections

As the judgment creditor’s exclusive remedy a charging order may placed against the debtor-partner’s transferable partnership interest.  This charging order constitutes a lien on the judgment-debtor’s transferable interest in the partnership.  This does not deprive the debtor-partner of any rights regarding his interest in the partnership.  To view this section of the Uniform Limited Partnership Act, click here.

West Virginia Business Acts

  1. West Virginia Business Corporations Act
    1. To view this Act, click here.
  2. Uniform Limited Liability Company Act
    1. To view this Act, click here.
  3. Uniform Limited Partnership Act
    1. 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.