Originally Posted by spideyrdpd
I was curious so I checked Oregons homestead laws. If I read it right it only protects the first 33k ? Doesnt seem like much protection . It may have been an older number ?
Here is a link to Oregon's exemptions: http://www.totalbankruptcy.com/state...ons_oregon.htm
It looks like Oregon has increased its homestead exemption for marrieds to $39,600. Not very generous.
Interestingly the idea of an annuity came up since they have asset protection. Ken lay had put some of his bucks in one and they say it will not be accesible to the civil suits.
How much protection an annuity has is dependent on state law. For example, if you look at the Oregon exemptions, it looks like you can protect a maximum distribution from an annuity of $500 per month. Other states like Wisconsin treat annuities like retirement plans and give broad protection. Other states have no protection for annuities.