Asset Protection Law Journal

Asset Protection Law Journal

Helping individuals and businesses take advantage of asset protection laws

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Ohio Raises Homestead Exemption to $125,000

Posted in Ohio law, Personal Residence

Ohio House Bill 479, signed by Governor John Kasich on December 20, 2012, will raise Ohio’s homestead exemption from its current $21,625 to $125,000.  The new law amends Section 2329.66 (A)(1)(b) of the Ohio Revised Code to provide for the higher amount. The original version of the legislation had provided for an unlimited homestead exemption. … Continue Reading

Ohio House Bill 479 Improves Asset Protection in Ohio

Posted in Domestic Asset Protection Trusts, Ohio law, Personal Residence

Ohio House Bill 479 – – commonly known as the Ohio Asset Management Modernization Act (OAMMA)  will affect a variety of asset protection strategies in Ohio.  The new law was signed by Ohio’s Governor on December 20, 2012 and will become effective in March of 2013.  House Bill 479 authorizes legacy trusts in Ohio.  Ohio… Continue Reading

Protecting Your Home from Creditors — Huge Variations in State Laws

Posted in Ohio law, Personal Residence

A debtor’s personal residence is a natural target of his or her creditors. Some states (Florida, in particular) provide special protection for your home against claims of creditors. Currently, Florida’s protection is so strong that some debtors have re-located to Florida solely to take advantage of this protection. Texas also provides a very strong homestead exemption. Ohio, however, currently provides… Continue Reading