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.
| ASSET | EXEMPTION | LAW |
|---|---|---|
| Alaska Homestead | $70,200 (joint owners may each claim a portion, but total cannot exceed $70,200) | 09.38.010(a) |
| Wages | Weekly 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) |
| Automobile | Up to $3,900 (its market value cannot exceed $26,000) | 09.38.020(e) |
| Other property | Life insurance or annuity contracts, total avails to $13,000 | 09.38.025 |
| Alimony (to extent wages exempt); child support payments made by collection agency | 09.38.015(b) | |
| Books, musical instruments, clothing, family portraits, household goods, and heirlooms to $3,900 total | 09.38.020(a) | |
| Jewelry to $1,300 | 09.38.020(b) | |
| Burial plot | 09.38.015(a)(1) | |
| Implements, books, and tools of trade to $3,640 | 09.38.020(c) | |
| Wildcard | None |
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.
Back to all State Bankruptcy Exemptions
Go to Complete State of Alaska bankruptcy exemptions laws.
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