Rhode Island State Exemption List
Federal and State Exemptions Allowed
In the state of Rhode Island, you can choose either the federal bankruptcy exemption list or the State of Rhode Island Bankruptcy Exemption List. There may be certain federal supplemental exemptions you can use if you choose the Rhode Island Bankruptcy Exemption List. All exemptions should be discussed with your Rhode Island Bankruptcy Attorney.
Rhode Island has created bankruptcy exemptions to allow you to maintain enough public benefits, wages, personal property and insurance to start over after filing bankruptcy in Rhode Island. There may be certain residency requirements to use the State of Rhode Island Bankruptcy Exemption List.
The following table will outline the Rhode Island Bankruptcy Exemptions. Some of your property or assets may not have a matching exemption.
|
Exemptions
|
Exemption Amount
|
Statutes
|
| Homestead |
$300,000 occupied or intended to be occupied as primary residence. |
9-26-4.1 |
| Personal Property |
Consumer cooperative association holdings up to $50. |
7-8-25 |
| |
All motor vehicles up to $10,000 total; clothing needed; furniture, beds and bedding, household goods and supplies up to $8,600 total; jewelry up to $1,000 total; books up to $300 total; burial plot; debt owed to you which is secured by a promissory note or bill of exchange; and prepaid tuition accounts. |
9-26-4 |
| Wages |
Earned but unpaid wages up to $50; wages of spouse; earned but unpaid wages of a seaman, or if you have received welfare during the year prior to filing for bankruptcy; wages paid to the poor by a charitable organization; earnings of a minor child. |
9-26-4 |
| |
Earned but unpaid wages of a military member on active duty. |
30-7-9 |
| Pensions |
Tax exempt retirement accounts; Traditional and Roth IRAs up the $1,095,000 per person. |
11 U.S.C. § 522 |
| |
ERISA-qualified benefits; IRAs and Roth IRAs. |
9-26-4 |
| |
Police officers and firefighters |
9-26-5 |
| |
Private employees. |
28-17-4 |
| |
State and municipal employees |
36-10-34 |
| Public Benefits |
Crime victim's compensation |
12-25.1-3 |
| |
Workers' compensation |
28-33-27 |
| |
State disability benefits |
28-41-32 |
| |
Unemployment compensation |
28-44-58 |
| |
Veterans' disability or survivor benefits. |
30-7-9 |
| |
General assistance; aid to blind, aged, and disabled |
40-6-14 |
| |
Family assistance benefits |
40-5.1-15 |
| Tools of the Trade |
Working tools up to $1,200; library of a professional in practice. |
9-26-4 |
| Insurance |
Life insurance proceeds if policy prohibits use to pay creditors. |
27-4-12 |
| |
Fraternal benefit society benefits. |
27-25-18 |
| |
Temporary disability insurance |
28-41-32 |
| |
Accident or illness proceeds, benefits, dividends, interest, loan, cash, or surrender value |
27-18-24 |
| Miscellaneous |
Business partnership property. |
7-12-36 |