Personal Bankruptcy Information

Federal supplemental exemptions can be used in conjunction with your Vermont exemptions and can be viewed here.

In Vermont, you may choose to use the federal exemption set instead of your state exemptions.

Also see Vermont bankruptcy forms.

ASSET	EXEMPTION DESCRIPTION	LAW SECTION
Homestead	Real property or mobile home to $75,000; may also claim rents, issues, profits & out-buildings Spouse of deceased owner may claim homestead exemption Property held as tenancy by the entirety may be exempt against debts owed by only one spouse	27-101 27-105 In re McQueen, 21 B.R. 736 (D. Ver. 1982)
Insurance	Annuity contract benefits to $350 per month Disability benefits that supplement life insurance or annuity contract Disability or illness benefits needed for support Fraternal benefit society benefits Group life or health benefits Health benefits to $200 per month Life insurance proceeds if beneficiary is not the insured Life insurance proceeds for person you depended on Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors Uninsured life insurance contract other than credit	8-3709 8-3707 12-2740(19) (C) 8-4478 8-3708 8-4086 8-3706 12-2740(19) (H) 8-3705 12-2740(18)
Miscellaneous	Alimony, child support needed for support Property of business partnership	12-2740(19) (D) 11-1282
Pensions	Municipal employees Self-directed accounts (IRAs, Keoghs) to $10,000 State employees Teachers Other pensions	24-5066 12-2740(16) 3-476 16-1946 12-2740(19) (J)
Personal Property	Appliances, furnishings, goods, clothing, books, crops, animals, musical instruments to $2500 total Cow, 2 goats, 10 sheep, 10 chickens; 3 swarms of bees & their honey; feed to last 1 winter; 10 cords of firewood, 5 tons of coal or 500 gallons of oil; 500 gallons of bottled gas; growing crops to $5000; 2 harnesses, 2 halters, 2 chains, plow & ox yoke; yoke of oxen or steers & 2 horses Jewelry to $500; wedding ring unlimited Motor vehicles to $2500; bank deposits to $700 Personal injury recoveries for person you depended on Stove, heating unit, refrigerator, freezer, water heater & sewing machines; lost future earnings for you or person you depended on; health aids Wrongful death recoveries for person you depended on	12-2740(5)     12-2740(6) 12-2740(9)-(14) 12-2740(3), (4) 12-2740(1), (15) 12-2740(19) (F) 12-2740(8), 12-2740(17), 12-2740(19) (1) 12-2740(19) (G)
Public Benefits	Aid to blind, disabled, aged, general assistance Crime victims’ compensation needed for support Social security needed for support Unemployment compensation Veterans’ benefits needed for support Workers’ compensation	33-124 12-2740(19) (E) 12-2740(19) (A) 21-1367 12-2740(19) (B) 21-681
Tools of Trade	Books & tools of trade to $5000	12-2740(2)
Wages	Minimum 75% of earned but unpaid wages; bankruptcy judge may authorize more for low-income debtors Wages, if received welfare during 2 months before filing	12-3170 12-3170
Wild Card	$7000 less any amount of appliances, et al, growing crops, jewelry, motor vehicle & tools of trade, of any property $400 of any property	12-2740(7) 12-2740(7)