Asset Strategies

Learn more about protecting your personal and company assets.

Connecticut Asset Protection Laws

These assets are exempted from a state court or bankruptcy proceeding in Connecticut.

Homestead: Real property, mobile home or manufactured home to $75,000, excluding consensual or statutory liens.

Pensions and Retirement Benefits: ERISA-qualified benefits, to the extent wages exempt. Funds exempt for municipal employees, teachers, veterans, state employees, probate judges and employees. IRA exemptions for conventional, Roth, education, SEP and SIMPLE plans. Roth IRAs and regular IRAs up to $1,245,000 per person.

Insurance: Fraternal society benefits. Disability benefits paid by association for its members. Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary's creditors. Health or disability benefits. Life insurance proceeds or avails. Unmatured life insurance policy loan value to $4,000.

Personal Property: Appliances, food, clothing, furniture and bedding needed. Burial plot. Health aids needed. Motor vehicle up to $13,500. Proceeds of one residence. Wedding and engagement rings.

Tools of Trade: Arms, military equipment, uniforms and musical instruments of military personnel. Tools, books, instruments and farm animals needed.

Miscellaneous: Business partnership property. Child support. Alimony to extent wages exempt. Farm partnership animals and livestock feed reasonably required to run farm where at least 50% of partners are members of same family.

Wages: Greater of 75% of earned but unpaid wages, pension payments, or excess of weekly wages over 40 times federal minimum wage; subject to court-ordered support claims.

Public Benefits: Unemployment compensation. Workers' Compensation. Aid to blind, aged, disabled. AFDC. Crime victims compensation. Veterans benefits. Social Security. Vietnam veteran's death benefits. Wages from earnings incentive program.

Wild Card: $1,000 of any property.

Category : Running A Business
Tags :
Load more comments
Thank you for the comment! Your comment must be approved first
New code

Need Help?

Our experts are always available M-F 8:00-7:00 CT.


20% off ADP Payroll Services

Manage your cash flow with ADP's payroll service. Includes direct deposit, tax filing, and general ledger interface.

$25 off Logo Creation
With CrowdSPRING

Get a custom logo for your business sourced from dozens of designs created by a network of professional artists.