Missouri Bankruptcy Exemptions
The chart below contains a summary of Missouri state bankruptcy exemptions and other relevant statutory laws. Click here for complete State of Missouri bankruptcy exemptions laws.
Note: Federal bankruptcy exemptions are not available.
Personal exemptions allowed by Missouri 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 |
|---|---|---|
| Missouri Homestead | Real property to $15,000; mobile home to $5,000. | 513.430(6); 513.475 |
| Wages | Minimum 75% of weekly earnings (90% for the head of family) or 30 times the Federal minimum hourly wage (whichever is greater). Bankruptcy judge may authorize more for low-income debtors. | 525.030 |
| Automobile | Up to $3,000 | 513.430(5) |
| Other property | Disability or illness benefits | 513.430(10)(c) |
| Alimony and child support to $750 per month | 513.430(10)(d) | |
| Appliances, household goods, furnishings, clothing, books, crops, animals, and musical instruments to $3,000 total | 513.430(1) | |
| Health aids | 513.430(9) | |
| Burial grounds to 1 acre or $100 | 214.190 | |
| Implements, books, and tools of trade to $3,000 | 513.430(4) | |
| Wildcard | If head of family, $1,250 of any property plus $350 per child. If not head of family, $600 of any property. | 513.430(3); 513.440 |
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 Missouri bankruptcy court statutes.
Back to all State Bankruptcy Exemptions
Go to Complete State of Missouri bankruptcy exemptions laws.
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