Idaho Bankruptcy Exemption List
Only State Exemptions Allowed
In the state of Idaho you can not use the federal bankruptcy exemption list but must choose the Idaho Bankruptcy exemptions. There may be certain federal supplemental exemptions you can use. All exemptions should be discussed with your Idaho Bankruptcy Attorney.
Idaho has created bankruptcy exemptions to allow you to maintain enough public benefits, wages, personal property and insurance to start over after filing bankruptcy in Idaho. There may be certain residency requirements to use the State of Idaho Bankruptcy Exemption List.
The following table will outline the Idaho Bankruptcy Exemptions. Some of your property or assets may not have a matching exemption.
| Exemptions | Exemption Amount | Statutes |
|---|---|---|
| Homestead | Real property or mobile home to $50,000 (does not double for joint debtors); sale proceeds exempt for six months | 55-1001, 55-1002, 55-1003, 55-1003 |
| Must record homestead exemption for property that is not yet occupied | 55-1004 | |
| Wages | Minimum 75% of earned but not paid wages, pension payments; bankruptcy judge may authorize more for low-income debtors | 11-207 |
| Miscellaneous | Alimony, child support needed for support | 11-604(1)(b) |
| Liquor licenses | 23-514 | |
| Property of business partnership | 53-325 | |
| Insurance | Annuity contract proceeds to $350 per month | 41-1836 |
| Death or disability benefits | 11-604(1)(a), 41-1834 | |
| Fraternal benefit society benefit | 41-3218 | |
| Group life insurance benefits | 41-1835 | |
| Homeowners’ insurance proceeds to amount of homestead exemption | 55-1008 | |
| Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors | 41-1930 | |
| Life insurance proceeds or avails for beneficiary or other than the insured | 11-604(d), 41-1833 | |
| Medical, surgical or hospital care benefits | 11-603(5) | |
| Tools of the Trade | Arms, uniforms and accoutrements that peace officer, national guard or military personnel is required to keep | 11-605(5) |
| Implements, books and tools of trade to $1,500 | 11-605(3) | |
| Pensions More information under wages |
ERISA-qualified benefits | 55-1101 |
| Firefighters | 72-1422 | |
| Police officers | 50-1517 | |
| Public employees | 59-1317 | |
| Other pensions needed for support; payments can not be mixed with other money | 11-604(1)(e) | |
| Personal Property | Appliances, furnishings, books, clothing, pets, musical instruments, one firearm, family portraits and sentimental heirlooms to $500 per item, $5,000 total | 11-605(1) |
| Building materials | 45-514 | |
| Burial plots | 11-603(1) | |
| Crops cultivated by debtor on maximum 50 acres, to $1,000; includes water rights of 160 inches | 11-605(6) | |
| Health aids needed | 11-603(2) | |
| Jewelry to $1000 | 11-605(2) | |
| Motor vehicle to $3,000 | 11-605(3) | |
| Personal injury recoveries needed for support | 11-605(1)(c) | |
| Proceeds for damaged exempt property for three months after proceeds received | 11-606 | |
| Wrongful death recoveries needed for support | 11-604(1)(c) | |
| one firearm up to $500 | 11-605(7) | |
| Public Benefits | Aid to blind, aged, disabled, AFDC | 56-223 |
| Federal, state and local public assistance | 11-603(4) | |
| Veterans’ benefits | 11-603(3) | |
| Workers’ compensation | 72-802 | |
| General assistance | 56-223 | |
| Social security | 11-603(3) | |
| Unemployment compensation | 11-603(6) | |
| Wild Card | aggregate interest in any tangible personal property up to $800 |
11-605(10) |
