Rhode Island Asset Protection Laws
These assets are exempted from a state court or bankruptcy proceeding in Rhode Island.
Homestead: Real property up to $300,000. Co-owners cannot double. Property held as tenancy by entirety exempt against debt of only one spouse.
Pensions and Retirement Benefits: ERISA-qualified plans. Funds exempt for public employees. IRA exemptions for conventional, Roth, SEP and SIMPLE plans. Roth IRAs and regular IRAs up to $1,245,000 per person.
Insurance: Life insurance if a clause prohibits payment to creditors. Fraternal society benefits. Accident and sickness insurance. Temporary liability insurance.
Personal Property: All necessary clothing. Books up to $300. Household furniture up to $9,600. Jewelry up to $2,000. Motor vehicle up to $12,000. One lot or right of burial for deceased person's body. Consumer cooperative association up to $50 interest. Debts secured by promissory notes.
Tools of Trade: Working tools for debtor's use up to $1,500. Uniforms, arms and equipment for militia members.
Miscellaneous: Business partnership property. Earnings of a minor child.
Wages: Wages of spouse. Wages due militia members. Seaman's unpaid wages. Unpaid wages to all other debtors up to $50.
Public Benefits: Unemployment compensation. Workers' compensation. AFDC. General assistance.
Wild Card: $5,000.