Chapter 41. Annuities and creditor protection


“Creditor. One of a tribe of savages dwelling beyond the Financial Straits and dreaded for their desolating incursions.”

 --Ambrose Bierce

Everyone seems to be worried about being sued, although the litigation explosion that we so often read about is more hype than reality. Many of the lawsuits about which people read are newsworthy just because they are rare, unusual occurrences. In any event, whether the fear is real or not, many people are concerned about protecting their assets from creditors or lawsuits. All the states have laws to protect some or all of the value of a person’s home from the claims of creditors through the use of Homestead laws, while other state laws protect life insurance and ...

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