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Wisconsin State Bankruptcy Exemptions |
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Wisconsin State Bankruptcy Exemptions |
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Federal
Bankruptcy Exemptions are available. All law references are to Wisconsin Statutes Annotated. |
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| ASSET | EXEMPTION | LAW PROVISION |
| Homestead | Property you occupy or intend to occupy to $40,000; sale proceeds exempt for 2 years from sale if you plan to obtain another home ( husband and wife may not double) |
815.20 |
| Insurance |
Federal
disability insurance Fire proceeds for destroyed exempt property for 2 years from receiving Fraternal benefit society benefits Life insurance policy or proceeds to $5000, if beneficiary is a married woman Life insurance proceeds held in trust by insurer, if clause prohibits proceeds from being used to pay beneficiary’s creditors Life insurance proceeds if beneficiary was dependent of insured, needed for support Unmatured life insurance contract, except credit insurance contract, owned by debtor & insuring debtor, dependent of debtor or someone debtor is dependent on Unmatured life insurance contract’s accrued dividends, interest or loan value (to $4000 total in all contracts), if debtor owns contract & insured is debtor, dependent of debtor or someone debtor is dependent on |
815.18(3) (ds) 815.18(3) (e) 614.96 766.09 632.42 815.18(3) (I) (a)
815.18(3) (f)
815.18(3) (f) |
| Miscellaneous |
Alimony,
child support needed for support Property of business partnership |
815.18(3) ( c) 178.21 |
| Pensions |
Certain
municipal employees Firefighters, police officers who worked in city with population over 100,000 Military pensions Private or public retirement benefits Public employees |
66.81 815.18(3) (ef) 815.18(3) (n) 815.18(3) (j) 40.08(1) |
| Personal Property |
Burial
provisions Deposit accounts to $1000 Household goods and furnishings, clothing, keepsakes, jewelry, appliances, books, musical instruments, firearms, sporting goods, animals and other tangible property held for personal, family or household use to $5000 total Lost future earnings recoveries, needed for support Motor vehicles to $1200 Personal injury recoveries to $25,000 Tenant’s lease or stock interest in housing co-op, to homestead amount Wages used to purchase savings bonds Wrongful death recoveries, needed for support |
815.18(3) (a) 815.18(3) (k)
815.18(3) (d) 815.18(3) (I) (d) 815.18(3) (g) 815.18(3) (I) (c) 182.004(6) 20.921(1) (e) 815.18(3) (I) (b) |
| Public Benefits |
Crime
victims’ compensation Social Service payments Unemployment compensation Veterans benefits Workers’ compensation |
949.07 49.41 108.13 45.35(8) (b) 102.27 |
| Tools of Trade | Equipment, inventory, farm products, books and tools of trade to $7500 total | 815.18(3) (b) |
| Wages | 75% of earned but unpaid wages; bankruptcy judge may authorize more for low-income debtors | 815.18(3) (h) |
| Wild Card | None | |
Thursday January 12, 2006