On this page you can find all of the exemptions for Montana. Exemptions are the property that you can keep when you file bankruptcy.
CATEGORY
PROPERTY
AMOUNT
STATUTE
Homestead
Homestead, consisting of mobile home or dwelling in which debtor resides and land on which it is located, if any
$250,000 - A written declaration of homestead must be recorded with county clerk. Includes traceable proceeds for 18 months after sale.
Mont. Code Ann. §§ 70-32-104, 105, & 25-13-615
Motor Vehicle
Debtor's interest in 1 motor vehicle
$2,500
Mont. Code Ann. § 25-13-609(2)
Wages / Wage Garnishment
Aggregate net earnings of debtor
(75% OR 30 times the federal minimum hourly wage per week, WHICHEVER IS GREATER) (support claims excepted)
Mont. Code Ann. § 25-13-614
Insurance
Fraternal Benefit Society benefits
100%
Mont. Code Ann. § 33-7-522
Insurance
Group life insurance proceeds
100%
Mont. Code Ann. § 33-15-512
Insurance
Proceeds and avails of life insurance policies where beneficiary is not the insured
100%
Mont. Code Ann. § 33-15-511
Insurance
Unmatured life insurance contracts owned by debtor
100%
Mont. Code Ann. § 25-13-608(1)(k)
Insurance
Medical, surgical or hospital care benefits, if used for medical care
100%
Mont. Code Ann. § 25-13-608(1)(f)
Insurance
Benefits paid from agricultural hail insurance
100%
Mont. Code Ann. § 80-2-245
Insurance
IRAs and Roth IRAs qualified under I.R.C.
100% of qualified amounts
(support claims excepted)
Mont. Code Ann. § 25-13-608(1)(e)
Insurance
Annuity contract benefits
$350 per month
Mont. Code Ann. § 33-15-514
Insurance
Disability or illness benefits
100%
Mont. Code Ann. § 25-13-608(1)(d)
Insurance
Disability insurance proceeds
100%
Mont. Code Ann. § 33-15-513
Personal Property
Traceable proceeds of lost, damaged, or destroyed exempt property
100% of applicable exemption for a period of 6 months
Mont. Code Ann. § 25-13-610(1)
Personal Property
Household furnishings and goods, appliances, jewelry, wearing apparel, books, firearms, sporting goods, animals, feed, crops, and musical instruments
$600 per item
$4,500 aggregate value
Mont. Code Ann. § 25-13-609(1)
Personal Property
Burial plot of debtor and family
100%
Mont. Code Ann. § 25-13-608(1)(h)
Personal Property
Maintenance and child support
100%
Mont. Code Ann. § 25-13-608(1)(g)
Personal Property
Professionally prescribed health aids
100%
Mont. Code Ann. § 25-13-608(1)(a)
Personal Property
Cemetery association lots
100%
Mont. Code Ann. § 35-20-217
Pensions / Retirement Accounts
Retirement benefits-public employees
100%
Mont. Code Ann. §§ 19-2-1004, 25-13-608(j)
Pensions / Retirement Accounts
University system retirement
100%
Mont. Code Ann. § 19-21-212
Pensions / Retirement Accounts
Policemens’ retirement
100%
Mont. Code Ann. § 19-19-504
Pensions / Retirement Accounts
Firefighters' retirement
100%
Mont. Code Ann. § 19-18-612
Pensions / Retirement Accounts
Teachers' retirement benefits
100%
Mont. Code Ann. § 19-20-706
Pensions / Retirement Accounts
Public employees' retirement funds and benefits
100% (support claims excepted)
Mont. Code Ann. § 19-2-1004
Pensions / Retirement Accounts
Benefits from a state authorized Retirement System or plan
100%
Mont. Code Ann. § 25-13-608(1)(i), (j)
Pensions / Retirement Accounts
Retirement benefits-teachers
100%
Mont. Code Ann. § 19-20-706,25-13-608(j)
Tools of the Trade
Required arms, uniforms and accouterments, and one gun
100%
Mont. Code Ann. § 25-13-613(1)(c)
Tools of the Trade
Implements, professional books, or tools of trade of debtor or dependent
$3,000
Mont. Code Ann. § 25-13-609(3)
Public Benefits
Workers' compensation benefits
100% (support claims excepted)
Mont. Code Ann. § 39-71-743
Public Benefits
Public assistance payments
100%
Mont. Code Ann. § 53-2-607 & 25-13-608(1)(b)
Public Benefits
Benefits from qualifying private or governmental retirement, pension or similar plan
100% -except contributions made within 1 year before the petition was filed that exceed 15% of the debtor’s gross income for that year are not exempt
Mont. Code Ann. § 31-2-106(3)
Public Benefits
Veterans' benefits
100%
Mont. Code Ann. § 25-13-608(1)(c)
Public Benefits
Social Security benefits and public assistance benefits
100% (support claims excepted)
Mont. Code Ann. § 25-13-608(1)(b)
Public Benefits
Payments to crime victims
100%
Mont. Code Ann. § 53-9-129
Public Benefits
Silicosis benefits
100%
Mont. Code Ann. § 39-73-110
Public Benefits
Unemployment compensation benefits
100% (support claims excepted)
Mont. Code Ann. § 39-51-3105, 31-2-106(2)
Miscellaneous
Specific partnership property
100%
Mont. Code Ann. § 35-10-505
If you want to learn more about filing bankruptcy in Montana please visit our FAQ Page or for more information about Montana you can visit the Montana section.
