Montana State Exemption List

Only State Exemptions Allowed

In the state of Montana you can not use the federal bankruptcy exemption list but must choose the Montana Bankruptcy exemptions. There may be certain federal supplemental exemptions you can use. All exemptions should be discussed with your Montana Bankruptcy Attorney.

Montana has created bankruptcy exemptions to allow you to maintain enough public benefits, wages, personal property and insurance to start over after filing bankruptcy in Montana. There may be certain residency requirements to use the State of Montana Bankruptcy Exemption List.

The following table will outline the Montana Bankruptcy Exemptions. Some of your property or assets may not have a matching exemption.

Exemptions Exemption Amount Statutes
Homestead

Homestead: 320 acres if farm, 1 acre outside municipality, 1/4 acre in municipality $100,000/200,000

Must record homestead declaration before filing for bankruptcy
70-32-104, 70-32-201,
70-32-216
70-32-105
Public benefits

Aid to aged, disabled, AFDC

Crime victims’ compensation

Local public assistance

Silicosis benefits

Social security

Subsidized adoption benefits

Unemployment compensation

Veterans’ benefits

Vocational rehabilitation to the blind

Workers’ compensation
53-2-606
53-9-129
25-13-608(1)(b)
39-73-110
25-13-608(1)(b)
53-2-607
31-2-106(2), 39-51-3105
25-13-608(1)(1)
53-2-607
39-71-743
Personal Property

Appliances, household furnishings, goods, animals with feed, crops, musical instruments, books, firearms, sporting goods, clothing & jewelry to $600 per item, $4500 total

Burial plot

Cooperative association shares to $500 value

Health aids (professionally prescribed)

Motor vehicle to $2500

Proceeds for damaged or lost exempt property for 6 months after received
25-13-609(1)
25-13-608(1)(g)
35-15-404
25-13-608(1)(a)
25-13-609(2)
25-13-610
Insurance

Annuity contract proceeds to $350 per month

Disability or illness proceeds, avails or benefits

Fraternal benefits society benefits

Group life insurance or proceeds

Hail insurance benefits

Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors

Medical, surgical or hospital care benefits

Non-matured life insurance contracts to $4000
33-15-514
25-13-608(1)(d), 33-15-513
33-7-522
33-15-512
80-2-245
33-20-120
25-13-608(1)(e)
25-13-609(4)
Miscellaneous

Alimony, child support

Property of business partnership

25-13-608(1)(f)

35-10-502
Pensions

ERISA-qualified benefits deposited over 1 year before filing bankruptcy in excess of 15% of debtor’s annual income

Firefighters

Game wardens

Highway patrol officers

Judges

Police officers

Public employees

Sheriffs

Teachers

University system employees
31-2-106
19-11-612(1), 19-13-1004
19-8-805(2)
19-6-705(2)
19-5-704
19-9-1006, 19-10-504(1)
19-3-105(1)
19-7-502(2)
19-4-706(2)
19-21-212
Tools of trade

Implements, books & tools of trade to $3000

Uniforms, arms, accoutrements needed to carry out government functions
25-13-609(3)
25-13-613(b)
Wages Minimum 75% of earned but unpaid wages; bankruptcy judge may authorize more for low-income debtors 25-13-614
Wildcard None  
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