|
ASSET
|
EXEMPTION DESCRIPTION
|
LAW SECTION
|
|
HOMESTEAD
|
Property you occupy to $100,000; if over 65 or
disabled, $200,000 (joint owners may not double)
|
188.1, 188-1A
|
| |
Must record homestead declaration before filing
bankruptcy
|
188-2
|
| |
Spouse or child of deceased owner may claim
homestead exemption
|
188-4
|
| |
Property held as tenancy be the entirety may be
exempt against non-necessity debts
|
209-1
|
|
PERSONAL PROPERTY
|
Bank deposits to $125; food or cash for food to $300
|
235-34
|
| |
Beds, bedding and heating unit; clothing needed
|
235-34
|
| |
Bibles and books to $200 total; sewing machine to
$200
|
235-34
|
| |
Burial plots, tombs and church pew
|
235-34
|
| |
Cash for fuel, heat, water or light to $75 per month
|
235-34
|
| |
Cash to $200 per month for rent, in lieu of
homestead
|
235-34
|
| |
Cooperative association shares to $100
|
235-34
|
| |
2 cows, 12 sheep, 2 swine, 4 tons of hay
|
235-34
|
| |
Furniture to $3,000; motor vehicle to $750
|
235-34
|
| |
Moving expenses for eminent domain
|
79-6A
|
| |
Trust company, bank or credit union deposits to $500
|
246-28A
|
|
INSURANCE
|
Disability benefits to $400 per week
|
175-110A
|
| |
Fraternal benefit society benefits
|
176-22
|
| |
Group annuity policy or proceeds
|
175-132C
|
| |
Group life insurance policy
|
175-135
|
| |
Life or endowment policy, proceeds or cash value
|
175-125
|
| |
Life insurance annuity contract which says it’s
exempt
|
175-125
|
| |
Life insurance policy if beneficiary is married
woman
|
175-126
|
| |
Life insurance proceeds if clause prohibits proceeds
from being used to pay beneficiary’s creditors
|
175-119A
|
| |
Medical malpractice self-insurance
|
175F-15
|
|
MISC.
|
Property of business partnership
|
108A-25
|
|
PENSIONS
also see wages
|
ERISA-qualified benefits
|
235-34A, 246-28
|
| |
Private retirement benefits
|
32-41
|
| |
Public employees
|
32-19
|
| |
Savings bank employees
|
168-41, 168-44
|
|
PUBLIC BENEFITS
|
AFDC
|
118-10
|
| |
Aid to ages, disabled
|
235-34
|
| |
Unemployment compensation
|
151A-36
|
| |
Veterans’ benefits
|
115-5
|
| |
Workers’ compensation
|
152-47
|
|
TOOLS OF TRADE
|
Arms, accouterments and uniforms you’re required
to keep
|
235-34
|
| |
Boats, fishing tackle and nets of fisherman to $500
|
235-34
|
| |
Materials you designed and procured to $500
|
235-34
|
| |
Tools, implements and fixtures to $500 total
|
235-34
|
|
WAGES
|
Earned but unpaid wages to $125 per week
|
246-28
|
