Wisconsin State Exemption List
State or Federal Exemptions Allowed
In the state of Wisconsin you may choose either the state of Wisconsin bankruptcy exemption list or the federal bankruptcy list. If you choose the Wisconsin bankruptcy list, there may be certain federal supplemental exemptions you can use too. All exemptions should be discussed with your Wisconsin Bankruptcy Attorney.
Wisconsin has created bankruptcy exemptions to allow you to maintain enough public benefits, wages, personal property and insurance to start over after filing bankruptcy in Wisconsin. There may be certain residency requirements to use the Wisconsin state exemption list.
The following table will outline the Wisconsin Bankruptcy Exemptions. Some of your property or assets may not have a matching exemption.
|
Exemptions
|
Exemption Amount
|
Statutes
|
| Homestead |
Property you occupy or intend to occupy to $40,000; sale proceeds exempt for 2 years from sale if you plan to obtain another home ( husband and wife may not double) |
815.20 |
| Insurance |
Federal disability insurance
Fire proceeds for destroyed exempt property for 2 years from receiving
Fraternal benefit society benefits
Life insurance policy or proceeds to $5000, if beneficiary is a married woman
Life insurance proceeds held in trust by insurer, if clause prohibits proceeds from being used to pay beneficiary’s creditors
Life insurance proceeds if beneficiary was dependent of insured, needed for support
Non-matured life insurance contract, except credit insurance contract, owned by debtor & insuring debtor, dependent of debtor or someone debtor is dependent on
Non-matured life insurance contract’s accrued dividends, interest or loan value (to $4000 total in all contracts), if debtor owns contract & insured is debtor, dependent of debtor or someone debtor is dependent on |
815.18(3) (ds)
815.18(3) (e)
614.96
766.09
632.42
815.18(3) (I) (a)
815.18(3) (f)
815.18(3) (f) |
| Miscellaneous |
Alimony, child support needed for support
Property of business partnership |
815.18(3) ( c)
178.21 |
| Public Benefits |
Crime victims’ compensation
Social Service payments
Unemployment compensation
Veterans benefits
Workers’ compensation |
949.07
49.41
108.13
45.35(8) (b)
102.27 |
| Personal Property |
Burial provisions
Deposit accounts to $1000
Household goods and furnishings, clothing, keepsakes, jewelry, appliances, books, musical instruments, firearms, sporting goods, animals and other tangible property held for personal, family or household use to $5000 total
Lost future earnings recoveries, needed for support
Motor vehicles to $1200 (plus unused portion of household furnishing exemption)
Personal injury recoveries to $25,000
Tenant’s lease or stock interest in housing co-op, to homestead amount
Wages used to purchase savings bonds
Wrongful death recoveries, needed for support |
815.18(3) (a)
815.18(3) (k)
815.18(3) (d)
815.18(3) (I) (d)
815.18(3) (g)
815.18(3) (I) (c)
182.004(6)
20.921(1) (e)
815.18(3) (I) (b) |
| Pensions |
Certain municipal employees
Firefighters, police officers who worked in city with population over 150,000
Military pensions
Private or public retirement benefits
Public employees |
66.81
815.18(3) (ef)
815.18(3) (n)
815.18(3) (j)
40.08(1) |
| Tools of the Trade |
Equipment, inventory, farm products, books and tools of trade to $7500 total |
815.18(3) (b) |
| Wages |
75% of earned but unpaid wages; bankruptcy judge may authorize more for low-income debtors |
815.18(3) (h) |
| Wildcard |
None |
|