The Benefits of Exemption Planning
Firm Overview At The Kaiser Law Firm, P.C. in St. Louis, Missouri, we believe that our clients deserve attorneys who spend time getting to know the clients and their objectives. Our attorneys have a deep understanding of the law in our practice areas and it shows in the results we obtain for our clients. Those practice areas include:
more... Our Address The Kaiser Law Firm,P.C.
12231 Manchester Rd.
First Floor
St. Louis, Missouri 63131
phone : 314.966.7766
fax : 314.966.7744 |
Each state and the federal government exempts certain categories of property from the reach of creditors.
- Missouri Homestead Protection: The homestead exemption in Missouri is $15,000. Mo. Rev. Stat 513.475, Mo. Rev. Stat 513.430.
- Tenancy by the Entirety Property: Property that is held in tenancy by the entirety may be exempt from the debts owed by one spouse. See In re Anderson, 12 B.R. 483 (W.D. Mo. 1981).
- Missouri Life Insurance:
- Life insurance proceeds are exempt. Mo. Rev. Stat 377.090.
- Dividends of an unmatured life insurance policy are exempt up to $150,000. MO. Rev. Stat 513.430.
- Missouri Annuities: Disability proceeds are exempt but not for any other purpose. MO. Rev. Stat 513.430.
- Missouri IRAs & Pension Plans:
- ERISA-qualified benefits are exempt but not the distributions from the plan, MO. Rev. Stat 513.430.
- IRAs are exempt but not the distributions from the IRA.
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