Mississippi State Asset Protection Laws

Mississippi Asset Protection Summary

Homestead Exemption

For residents age of 70 or older there is an exemption of $50,000 for property of any kind. To view this statute, click here.

Every citizen owning a home is entitled to a $75,000 Homestead exemption; this exemption is for land not to exceed 160 acres. To view this statute, click here.

For anyone over the age of 60 the exemption can not be deprived for failure to reside in homestead. To view this statute, click here.

To view Mississippi’s Exempt Property Statute, click here.

Life Insurance and Annuities

Proceeds from life insurance policies and annuity contracts are exempt if the policy so states that nobody may commute, encumber, alienate, anticipate, or assign any part of the policy or contract. To view this statute, click here.

Life insurance proceeds shall not be subject to debts of the insured. To view this statute, click here.

IRA and Pensions

ERISA qualified benefits and IRAs are exempt. To see this statute, click here.

Certain pension plans are exempt. To see this statute, click here.

Disability Insurance and Health Savings Accounts

Income from disability insurance is exempt. To see this statute, click here.

Assets and interest on Health Savings Accounts are exempt. To see this statute, click here.

Corporate Protections

Charging Order

As a transferee of a partner or a judgment creditor’s exclusive remedy a charging order may placed on the debtor-partner’s partnership interest. The charging order constitutes a lien on the debtor-partner’s transferable interest in the partnership. To view this statute, click here.

Business Acts

1. Mississippi Business Corporation Act