Georgia

The information given on this page is for educational and informational purposes only, and does not constitute any legal or tax advice or opinion. This page is meant to give a quick start to research by other professionals, but it should absolutely not be relied upon for any purposes whatsoever. Additionally, this page is kept current only as our time allows, and the information given here may not be current. We make NO GUARANTEES as to the accuracy of the information herein and you should not rely on it. Even professionals who use this information must independently verify whether it is correct and current.

Georgia Asset Protection Overview

Georgia debtors may only choose from the state bankruptcy exemptions.

The statutory creditor protections in Georgia are poor, offering only nominal protection to homestead (why weren’t the state legislatures smart enough to index these provisions to inflation?), and the cash values of life insurance policies. Georgia does, however, protect annuity contracts, IRAs, and many pension plans.

Georgia Statutory Creditor Exemptions

For additional detailed information on the use of life insurance, annuities, pension plans, and employee benefit plans for wealth preservation and asset protection, see advanced life insurance

Georgia Homestead

• Real property is exempt up to $10,000. A couple may double this amount. [44-13-100(A)(1)]

Statute

Georgia Life Insurance

• The beneficiary’s interest in death benefit exempt to extent reasonably necessary for support or debtor and dependent if insured was individual of whom debtor was a dependent. [44-13-100(a)(11)(C)]

Statute

• Owner’s interest in unmatured policy (except credit life insurance) wholly exempt; provided that only $2,000 maximum accrued dividend or interest, or loan or cash value, exempt (provided insured is debtor or individual upon whom debtor is dependent). [44-13-100(a)(9)]

Statute

Georgia Annuities

• Proceeds of an annuity are exempt, so long as the beneficiary or assignee of the contract, is not the owner of the policy or the owner's estate. [33-28-7]

Statute

Georgia IRAs & Pension Plans

• ERISA-governed benefits from a pension or retirement program or benefits from an IRA (undistributed) shall be exempt until paid or transferred to beneficiary. When the benefits are conferred to beneficiary, the benefits are considered disposable earnings as provided in Section 18-4-20, and a creditor may only attach up to 25% of debtor's disposable earnings per week. [18-4-22]

Statute

• Debtor may also exempt, to the extent necessary to support the debtor and/or the debtor's dependent(s), a payment under a pension, annuity, or a payment from an IRA. [44-13-100 (a)(2)(E) to (F)]

Statute

• Debtor's interest in any undistributed funds or property under any retirement or pension plan that is maintained for public officers or employees by the state or a nonprofit corporation is exempt. [44-13-100(a)(2.1)(B), (C)].

Statute

Georgia Fraudulent Transfers

For additional detailed information relating to fraudulent transfers, including the text of the Uniform Fraudulent Transfers Act, see fraudulent transfers

Georgia Fraudulent Transfer Act

• Georgia Fraudulent Transfers Act

Georgia Fraudulent Transfer Cases

Federal Circuit Court

• Chepstow Limited v. Hunt,
  No. 03-14051 (11th Cir. 08/19/2004)

State Appellate Court

• Gerschick v. Pounds
  2006 WL 2075690 (Ga.App. 07/27/2006)

• Miller v. Lomax,
  2004.GA.0000348 (Ga.App. 03/04/2004) Civil Conspiracy

• Mills v. Parker,
  560 S.E.2d 42 (Ga.App. 01/17/2002)

• Holmes v. Henderson,
  549 S.E.2d 81 (Ga. 06/25/2001)

• Laxton v. Laxton,
  507 S.E.2d 146 (Ga.App. 08/21/1998)

• Dearing v. A.R. III
  466 S.E.2d 565 (Ga. 01/29/1996)

• Georgia Power Company v. Hunt
  466 S.E.2d 846 (Ga. 02/12/1996)

• R.G. Jordan v. Jerry Caswell
  450 S.E.2d 818 (Ga. 11/21/1994)

• Hall v. Hidy
  435 S.E.2d 215 (Ga. 10/12/1993)

• Lawson et al. v. Athens Auto Supply
  409 S.E.2d 60 (Ga.App. 07/02/1991)

• Kubler v. Goerg
  399 S.E.2d 229 (Ga. 11/05/1990)

• Kesler et al. v. Veal et al.
  356 S.E.2d 254 (Ga. 03/20/1987)

• Benbow v. Wiggin et al.
  326 S.E.2d 538 (Ga.App. 01/22/1985)

• Brown et al. v. Citizens & Southern
  317 S.E.2d 180 (Ga. 05/01/1984)

• Stone Mountain Pool Supply Company v. Imperial Pool Company
  316 S.E.2d 769 (Ga.App. 02/01/1984)

• All Risk Insurance Agency v. Rockbridge
  305 S.E.2d 390 (Ga.App. 05/11/1983)

• Brown et al. v. Citizens & Southern
  308 S.E.2d 850 (Ga.App. 09/28/1983)

• Scroggins v. Edmond et al.
  297 S.E.2d 469 (Ga. 11/30/1982)

• Briggs v. Southern Bakeries Company
  182 S.E.2d 459 (Ga. 06/02/1971)

• McLarty v. Emhart Corporation
  179 S.E.2d 46 (Ga. 12/03/1970)

• Screven Oil Mill et al. v. Hudmon et al.
  105 S.E.2d 328 (Ga. 09/05/1958)

• Godfrey v. City Cochran et al.
  65 S.E.2d 605 (Ga. 06/11/1951)

• McGahee et al. v. McGahee
  48 S.E.2d 675 (Ga. 06/17/1948)

• First National Bank Birmingham v. Carmichael et al.
  31 S.E.2d 811 (Ga. 10/06/1944)

• Edwards et al. v. United Food Brokers Inc.
  22 S.E.2d 812 (Ga. 11/12/1942)

Georgia Trusts

For additional detailed information relating to the use of trusts for asset protection, including foreign and domestic asset protection trusts, see trusts.

Trust Act (Non Self-Settled)

• Georgia Trust Act

Georgia Business Entities

Georgia Acts

• Georgia Corporation Act
• Georgia Limited Partnership Act [14-9A-1]
• Georgia Limited Liability Company Act

Georgia Charging Order Cases

• Stewart v. Lanier Park Medical Office Building, Ltd.,
  578 S.E. 2d 572, (Ga.App. 02/26/2003)

• Prodigy Centers/Atlanta No. 1 L.P. v. T-C Associates,
  147 F.3d 1324 (11th Cir. 07/29/1998)

• Prodigy Centers v. T-C Associates, Ltd.,
  501 S.E. 2d 209, (Ga. 06/08/1998)

• Nigri v. Lotz,
  453 S.E.2d 780 (Ga.App. 02/01/1995)

Georgia Alter Ego & Corporate Veil Cases

• Baillie Lumber Company v. Thompson et al.,
  No. S05Q0587 (Ga. 04/26/2005)

• Pazur v. Belcher,
  No. A04A1866 (Ga.App. 12/20/2004)

• Baillie Lumber Company, LP v. Bert F. Thompson, et al.,
  No. 03-15932 (11th Cir. 12/02/2004)

• Southern Land Title, Inc. et al. v. North Georgia Title, Inc.,
  No. A04A1935 (Ga.App. 10/07/2004)

• Ward et al. v. Ward,
  No. A04A1138 (Ga.App. 07/08/2004)

• Bonner v. Brunson,
  No. A03A1514 (Ga.App. 07/28/2003)

• Acree v. McMahon,
  276 Ga. 880 (Ga. 07/10/2003)

• Scott Brothers, Inc. v. Warren,
  582 S.E. 2d 224, (Ga.App. 05/15/2003)

• Yukon Partners, Inc. v. The Lodge Keeper Group, Inc.,
  572 S.E. 2d 647, (Ga.App. 09/27/2002)

• Miller v. Harco National Insurance Co.,
  552 S.E. 2d 848, (Ga. 09/17/2001)

• Flint Electric v. Barrow,
  523 S.E. 2d 10, (Ga. 10/20/1999)

• Artrac Corporation et al. v. Austin Kelley
  399 S.E.2d 529 (Ga.App. 11/15/1990)

Useful Georgia Links

For additional detailed information relating to financial frauds and tax scams, see http://www.quatloos.com

• Georgia Secretary of State
• Georgia Attorney General
• Georgia Department of Public Safety
• Georgia Bar Association

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