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.
|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),|
|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)|
|Implements, books, and tools of trade to $3,640||09.38.020(c)|
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.