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Wisconsin Bankruptcy ExemptionsHomestead 815.20 - $40,000. Sale proceed exempt for 2 years after sale provided you intend to acquire another home. Personal Property 14.64 - College savings account or tuition trust fund. 20.921 - Wages used to purchase savings bonds. 182.004 - Tenant's stock or lease interest in co-op housing up to homestead amount. 815.18 - Automobile up to $1,200 (plus any of the $5,000 personal property exemption that is unused); household goods and furnishings; wearing apparel, keepsakes, jewelry, appliances, books, musical instruments, firearms, sporting goods, animals or other items for family use up to $5,000 total; burial plot, monument, tombstone, etc.; and bank deposits up to $1,000; wrongful death proceeds needed for support; personal injuries recoveries up to $25,000; fire and casualty proceeds for destroyed property that is exempt for 2 years of receipt; lost future earnings recoveries needed for support. Wages 303.065 - Wages of inmates who are under a work-release plan. 303.08 - County jail prisoners' wages. 303.10 - County work camp prisoners' wages. 815.18 - 75% of net wages, and no less that 30 times the state or federal minimum wage, whichever is greater. Judge may approve more for low-income debtors. Pensions 11 U.S.C. § 522 - Tax exempt retirement accounts; Traditional and Roth IRAs up to $1,095,000 per person. 40.08 - Public employees. 62.63 - Certain municipal employees. 815.18 - Police officers and firefighters who work in a city greater than 100,000 people; military pensions; and public and private retirement benefits. Public Benefits 45.03 - Veterans' benefits. 108.13 - Unemployment compensation. 49.46 - Social service payments. 949.07 - Crime victims' compensation. 102.27 - Workers' compensation. Tools of Trade 815.18 - Equipment, inventory, farm products, and professional books used in the business of the debtor or a dependent, up to $7,500. Alimony and Child Support 815.18 - Alimony and child support needed for support. Insurance 614.96 - Fraternal benefit society benefits. 632.42 - Life insurance proceeds if policy prohibits use to pay creditors. 815.18 - Unmatured life insurance contracts up to $4,000 in value in accrued dividends, interest or loan value (except for credit life contracts) if owned by debtor and insuring debtor, dependent, or person debtor is dependent upon; federal disability benefits; life insurance proceeds if debtor was dependent upon insured, to extent necessary to support debtor or family. Miscellaneous 178.21 - Business partnership property. HOME BANKRUPTCY STEPS FREE CONSULTATION EMERGENCY FILING
This website contains information related to law and is NOT LEGAL advice. It contents is for information only. If you need legal advice, please consult an attorney or act as your own. All documents typed are prepared by Rica Gilmore.
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