Federal Bankruptcy Exemptions

If you live in a state that allows it, you may choose the following federal exemptions as opposed to your state exemptions.

Married couples may double all exemptions.

ASSET

EXEMPTION DESCRIPTION

LAW SECTION
(11 USC § 522)

Homestead

Real property, including co-op or
mobile home, to $17,450; unused portion of homestead to $8,725
may be applied to any property

(d)(1)

Insurance

Disability, illness or unemployment
benefits

(d)(10)(C)

 Life insurance payments for persons
who depend on debtor, needed for support
(d)11)(C)
 Life insurance policy with loan value,
in accrued dividends or interest, to $9,300
(d)(8)
 Unmatured life insurance contract, except
credit insurance policy
(d)(7)

Miscellaneous

Alimony, child support needed for
support

(d)(10(D)

Pensions

ERISA-qualified benefits needed for
support

(d)(10)(E)

Personal property

Animals, crops, clothing, appliances,
books, furnishings, household goods, musical instruments to $425
per item, $9,300 total

(d)(3)

 Health aids(d)(9)
 Jewelry to $1,150(d)(4)
 Lost earnings payments(d)(11)(E)
 Motor vehicle to $2,775(d)(2)
 Personal injury recoveries to $17,425
(not to include pain and suffering or pecuniary loss)
(d)(11)(D)
 Wrongful death recoveries for person
debtor depended on
(d)(11)(B)

Public benefits

Crime victims’ compensation

(d)(11)(A)

 Public assistance(d)(10)(A)
 Social Security(d)(10)(A)
 Unemployment compensation(d)(10)(A)
 Veterans’ benefits(d)(10)(A)

Tools of trade

Implements, books & tools of
trade to $1,750

(d)(6)

Wages

NONE

 

WILD CARD

$925 of any property

Up to $8,725 of unused homestead exemption, for any property

(d)(5)

(d)(5)