Federal Bankruptcy Exemptions

Question 1

Homestead

Answer 1

Real property up to $23,675. Unused portion: up to 11,850 for other property

Question 2

Motor Vehicle

Answer 2

Up to $3775

Question 3

Animals, crops, clothing, appliances & furnishings, books, household goods & musical instruments

Answer 3

$600 per item; up to $12,625 total

Question 4

Jewelry

Answer 4

$1600

Question 5

Health Aids

Answer 5

No limit

Question 6

Wrongful death recovery for person you depend on

Answer 6

Exempted outright, not part of bankruptcy estate.

Question 7

Personal injury recovery

Answer 7

Up to $23,675, except for pain & suffering pecuniary loss

Question 8

Lost earnings payments

Answer 8

Exempted outright, not part of bankruptcy estate.

Question 9

Tax Exempt Retirement Accounts

Answer 9

Exempted outright, not part of bankruptcy estate.

Question 10

IRA / Roth IRA

Answer 10

Exempted outright, not part of bankruptcy estate.

Question 11

Public Assistance: Social Security, Veteran’s Benefits, Unemployment Compensation

Answer 11

Exempted outright, not part of bankruptcy estate.

Question 12

Crime Victim’s Compensation

Answer 12

Exempted outright, not part of bankruptcy estate.

Question 13

Alimony and child support needed for support

Answer 13

Exempted outright, not part of bankruptcy estate.

Question 14

Unmatured life insurance policy

Answer 14

Exempted outright, not part of bankruptcy estate. Except Credit insurance

Question 15

Life insurance policy with loan value up to:

Answer 15

$12,625

Question 16

Disability, unemployment or illness benefits

Answer 16

Exempted outright, not part of bankruptcy estate.

Question 17

Life insurance payments for a person you depended on, which you need for support

Answer 17

Exempted outright, not part of bankruptcy estate.