Alaska Bankruptcy Exemptions

The chart below contains a summary of Alaska state bankruptcy exemptions and other relevant statutory laws. Click here for a complete State of Alaska bankruptcy exemptions laws.
Note: Federal bankruptcy exemptions are not available.

Personal exemptions allowed by Alaska Bankruptcy Laws

Note: Under the 2005 bankruptcy law, almost all types of tax-exempt retirement accounts are exempt in bankruptcy whether state or Federal exemptions are used. Exemptions for 401(k)s, 403(b)s, profit-sharing and money purchase plans, and defined benefit plans include the entire account amounts. However, with traditional and Roth IRAs, the exemption is limited to a total value of $1,171,650 per person for all accounts held by the debtor (not per account). The total value amount is adjusted every three years for inflation. The relevant statutes: 11 U.S.C. §522(d)(12) for Federal bankruptcy exemptions; 11 U.S.C. §522(b)(3)(C) for state bankruptcy exemptions.

ASSETEXEMPTIONLAW
Alaska Homestead$70,200 (joint owners may each claim a portion, but total cannot exceed $70,200)09.38.010(a)
WagesWeekly net earnings to $456 (for sole wage earners in a household, $716); if no weekly or semimonthly pay is received, can claim up to $1,820 in cash or liquid assets paid any month (for sole wage earner in household, $2,860)09.38.030(a),
(b); 09.38.050(b)
AutomobileUp to $3,900 (its market value cannot exceed $26,000)09.38.020(e)
Other propertyLife insurance or annuity contracts, total avails to $13,00009.38.025
Alimony (to extent wages exempt); child support payments made by collection agency09.38.015(b)
Books, musical instruments, clothing, family portraits, household goods, and heirlooms to $3,900 total09.38.020(a)
Jewelry to $1,30009.38.020(b)
Burial plot09.38.015(a)(1)
Implements, books, and tools of trade to $3,64009.38.020(c)
WildcardNone

Note: While this reference information is current as of August 2010, it may not reflect the most up-to-date exemption figures on official state of Alaska bankruptcy court statutes.

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Go to Complete State of Alaska bankruptcy exemptions laws.

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