Vermont Bankruptcy Exemptions

On this page you can find all of the exemptions for Vermont. Exemptions are the property that you can keep when you file bankruptcy.

CATEGORY
PROPERTY
AMOUNT
STATUTE
Homestead
Homestead, consisting of dwelling house, outbuildings and land used in connection therewith, including rents, issues, profits, and products thereof
$125,000
27 VSA § 101
Motor Vehicle
Motor vehicles
$2,500
12 VSA § 2740(1)
Wild Card
Debtor's interest in any property
$400 plus up to $7,000 of any unused exemption provided under 12 VSA § 2740(1), (2), (4), (5) or (6)
12 VSA § 2740(7)
Wages / Wage Garnishment
Disposable earnings (earnings less deductions required by law)
75% OR 30 times the federal minimum hourly wage per week WHICHEVER IS GREATER
12 VSA § 3170
Insurance
Proceeds of life insurance policy
$500
12 VSA § 3020(2)
Insurance
Disability payments
$200 per month; unlimited if a lump sum
8 VSA § 4086
Insurance
Fire insurance proceeds resulting from loss by fire of exempt property
100%
12 VSA § 3020(1)
Insurance
Disability insurance benefits that are supplemental to life insurance or annuity contracts
100%
8 VSA § 3707
Insurance
Life insurance payments and payments under pension, annuity, profit- sharing, stock bonus, or similar plans on account of death, disability, illness or retirement
Amount reasonably necessary for the support of debtor and dependents
12 VSA § 2740(19)(H),(J)
Insurance
Fraternal Benefit Society benefits
100%
8 VSA § 4478
Insurance
Unmatured life insurance contracts
100% (credit life insurance excluded)
12 VSA § 2740(18)
Insurance
Annuity contract benefits
$350 per month
8 VSA § 3709
Insurance
Beneficial interests in insurance policies or annuity contracts containing spendthrift clauses
100%
8 VSA § 3705
Insurance
Proceeds and avails of life insurance policies wherein beneficiary is not the insured
100% (less premiums paid in defraud of creditors)
8 VSA § 3706
Insurance
Proceeds of group life insurance and group disability insurance
100%
8 VSA § 3708
Personal Property
3 swarms of bees with hives & produce
100%
12 VSA § 2740(12)
Personal Property
One wedding ring
100%
12 VSA § 2740(3)
Personal Property
1 cow, 2 goats, 10 sheep, 10 chickens, and one winter’s feed for each
100%
12 VSA § 2740(11)
Personal Property
500 gallons of bottled gas
100%
12 VSA § 2740(10)
Personal Property
10 cords of firewood or 500 gallons of oil
100%
12 VSA § 2740(9)
Personal Property
Compensation for personal injury, pain & suffering, or actual pecuniary loss, compensation for wrongful death, and compensation for loss of future earnings
Amount reasonably necessary for the support of debtor and dependents
12 VSA § 2740(19)(F),(G),(I)
Personal Property
Professionally prescribed health aids
100%
12 VSA § 2740(17)
Personal Property
Cook stove, heating appliance, refrigerator freezer, water heater, and sewing machines
100%
12 VSA § 2740(8)
Personal Property
Bank deposits or deposit accounts
$700
12 VSA § 2740(15)
Personal Property
Growing crops
$5,000
12 VSA § 2740(6)
Personal Property
2 harnesses, 2 halters, 2 chains, 1 plow, and 1 ox yoke
100%
12 VSA § 2740(14)
Personal Property
Personal, family or household furnishings, goods, appliances, books, wearing apparel, animals, crops, or musical instruments of debtor or dependent
$2,500
12 VSA § 2740(5)
Personal Property
1 yoke of oxen or steers or 2 team horses
100%
12 VSA § 2740(13)
Personal Property
Personal, family, or household jewelry of debtor or dependent
$500
12 VSA § 2740(4)
Pensions / Retirement Accounts
Retirement benefits-municipal employees
100%
24 VSA § 5066
Pensions / Retirement Accounts
Vermont Employees Retirement System benefits and funds
100%
3 VSA § 476
Pensions / Retirement Accounts
Self-directed retirement plans and IRAs
100% of tax deductible amounts, except that contributions made within 1 year of bankruptcy are not exempt. Roth IRAs are exempt to extent contributions do not exceed limits specified in 26 U.S.C. 408A
12 VSA § 2740(16)
Pensions / Retirement Accounts
Certain teachers annuity and pension plan payments
100%
16 VSA § 1946
Tools of the Trade
Professional or trade books or tools of debtor or dependent
$5,000
12 VSA § 2740(2)
Public Benefits
Public assistance payments
100%
33 VSA § 124
Public Benefits
Workmen's compensation benefits
100% (except claims of physicians & hospital who rendered services)
21 VSA § 681
Public Benefits
Unemployment compensation benefits
100% (except child support)
21 VSA § 1367
Public Benefits
Social security benefits, veteran's benefits, disability or illness benefits, alimony, support, or separate maintenance, and crime victims’ reparation awards
Amount reasonably necessary for the support of debtor and dependents
12 VSA § 2740(19)(A)-(E)
Miscellaneous
Fees of jurors and fees and room and board expenses of legislators
100%
12 VSA § 3020(3)(4)
Miscellaneous
Personal earnings of minor child or married woman
100% (applies against creditors or parent or husband)
12 VSA § 3020(6)
Miscellaneous
Amounts owing to debtor from sale of exempt property
Same as exemption given for property sold
12 VSA § 3023
Miscellaneous
Specific partnership property
100% of partner's interest
11 VSA § 3213

If you want to learn more about filing bankruptcy in Vermont please visit our FAQ Page or for more information about Vermont you can visit the Vermont section.