Federal Exemptions

Federal Exemptions in Bankruptcy

Homestead:

522(d)(1) Real property, including mobile homes and co-ops, or burial plots up to $20,200. Unused portion of homestead, up to $10,125, may be used for other property.

Personal Property:

522(d)(2) – Motor vehicle up to $3,225.

522(d)(3) – Animals, crops, clothing, appliances and furnishings, books, household goods, and musical instruments up to $525 per item, and up to $10,775 total.

522(d)(4) – Jewelry up to $1,350.

522(d)(5) – $1,075 of any property, and unused portion of homestead up to $10,125.

522(d)(9) – Health aids.

522(d)(11)(B) – Wrongful death recovery for person you depended upon.

522(d)(11)(D) – Personal injury recovery up to $20,200 except for pain and suffering or for pecuniary loss.

522(d)(11)(E) – Lost earnings payments.

Pensions:

522(b)(3)(C) – Tax exempt retirement accounts; IRAs and Roth IRAs up to $1,095,000 per person.

Public Benefits:

522(d)(10)(A) – Public assistance, Social Security, Veteran’s benefits, Unemployment Compensation.

522(d)(11)(A) – Crime victim’s compensation

Tools of Trade:

522(d)(6) – Implements, books and tools of trade, up to $2,025.

Alimony and Child Support:

522(d)(10)(D) – Alimony and child support needed for support

Insurance:

522(d)(7) – Unmatured life insurance policy except credit insurance.

522(d)(8) – Life insurance policy with loan value up to $10,775.

522(d)(10)( C ) – Disability, unemployment or illness benefits

522(d)(11)( C ) – Life insurance payments for a person you depended on, which you need for support.