Massachusetts State Exemption List
Federal and State Exemptions Allowed
In the state of Massachusetts, you can choose either the federal bankruptcy exemption list or the State of Massachusetts Bankruptcy Exemption List. There may be certain federal supplemental exemptions you can use if you choose the Massachusetts Bankruptcy Exemption List. All exemptions should be discussed with your Massachusetts Bankruptcy Attorney.
Massachusetts has created bankruptcy exemptions to allow you to maintain enough public benefits, wages, personal property and insurance to start over after filing bankruptcy in Massachusetts. There may be certain residency requirements to use the State of Massachusetts Bankruptcy Exemption List.
The following table will outline the Massachusetts Bankruptcy Exemptions. Some of your property or assets may not have a matching exemption.
|
Exemptions
|
Exemption Amount
|
Statutes
|
| Homestead |
Property you occupy to $100,000; if over 65 or disabled, $200,000 (joint owners may not double) |
188.1, 188-1A |
| |
Must record homestead declaration before filing bankruptcy |
188-2 |
| |
Spouse or child of deceased owner may claim homestead exemption |
188-4 |
| |
Property held as tenancy be the entirety may be exempt against non-necessity debts |
209-1 |
| Public Benefits |
AFDC |
118-10 |
| |
Aid to ages, disabled |
235-34 |
| |
Unemployment compensation |
151A-36 |
| |
Veterans’ benefits |
115-5 |
| |
Workers’ compensation |
152-47 |
| Tools of Trade |
Arms, accouterments and uniforms you’re required to keep |
235-34 |
| |
Boats, fishing tackle and nets of fisherman to $500 |
235-34 |
| |
Materials you designed and procured to $500 |
235-34 |
| |
Tools, implements and fixtures to $500 total |
235-34 |
| Wages |
Earned but unpaid wages to $125 per week |
246 |
| Miscellaneous |
Property of business partnership |
108A-25 |
Pensions
|
ERISA-qualified benefits |
235-34A, 246-28 |
| |
Private retirement benefits |
32-41 |
| |
Public employees |
32-19 |
| |
Savings bank employees |
168-41, 168-44 |
| Insurance |
Disability benefits to $400 per week |
175-110A |
| |
Fraternal benefit society benefits |
176-22 |
| |
Group annuity policy or proceeds |
175-132C |
| |
Group life insurance policy |
175-135 |
| |
Life or endowment policy, proceeds or cash value |
175-125 |
| |
Life insurance annuity contract which says it’s exempt |
175-125 |
| |
Life insurance policy if beneficiary is married woman |
175-126 |
| |
Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors |
175-119A |
| |
Medical malpractice self-insurance |
175F-15 |
|
Personal Property
|
Bank deposits to $125; food or cash for food to $300 |
235-34 |
| |
Beds, bedding and heating unit; clothing needed |
235-34 |
| |
Bibles and books to $200 total; sewing machine to $200 |
235-34 |
| |
Burial plots, tombs and church pew |
235-34 |
| |
Cash for fuel, heat, water or light to $75 per month |
235-34 |
| |
Cash to $200 per month for rent, in lieu of homestead |
235-34 |
| |
Cooperative association shares to $100 |
235-34 |
| |
2 cows, 12 sheep, 2 swine, 4 tons of hay |
235-34 |
| |
Furniture to $3,000; motor vehicle to $750 |
235-34 |
| |
Moving expenses for eminent domain |
79-6A |
| |
Trust company, bank or credit union deposits to $500 |
246-28A |