Wisconsin Bankruptcy Exemptions
The chart below contains a summary of Wisconsin state bankruptcy exemptions and other relevant statutory laws.
Click here for complete State of Wisconsin bankruptcy exemptions laws
Note: Federal bankruptcy exemptions are available.
Click here for Federal Bankruptcy Exemptions
Personal exemptions allowed by Wisconsin Bankruptcy Law
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.
|Wisconsin Homestead||Property occupied or intended to be occupied by debtor to $75,000; $150,000 for a married couple filing jointly||815.20|
|Wages||75% of weekly net income or 30 times the greater of the Federal or state minimum hourly wage. Bankruptcy judge may authorize more for low-income debtors.||815.18(3)(h)|
|Automobile||Up to $4,000; unused portion of $12,000 personal property exemption may be added||815.18(3)(g)|
|Other property||Federal disability insurance benefits||815.18(3)(ds)|
|Alimony and child support needed for support||815.18(3)(c)|
|Household goods and furnishings, clothing, keepsakes, jewelry, appliances, books, musical instruments, firearms, sporting goods, animals, and other tangible personal property to $12,000 total||815.18(3)(d)|
|Deposit accounts to $5,000||815.18(3)(k)|
|Burial plot, tombstone, coffin||815.18(3)(a)|
|Equipment, inventory, farm products, books, and tools of trade to $15,000 total||815.18(3)(b)|
Note: While this reference information is current as of October 2010, it may not reflect the most up-to-date exemption figures on official state of Pennsylvania bankruptcy court statutes.