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Wisconsin Bankruptcy Exemptions

The chart below contains a summary of Wisconsin state bankruptcy exemptions and other relevant statutory laws.
Click here for complete State of Wisconsin bankruptcy exemptions laws

Note: Federal bankruptcy exemptions are available.
Click here for Federal Bankruptcy Exemptions

Personal exemptions allowed by Wisconsin Bankruptcy Law

Note: Under the 2005 bankruptcy law, almost all types of tax-exempt retirement accounts are exempt in bankruptcy whether state or Federal exemptions are used. Exemptions for 401(k)s, 403(b)s, profit-sharing and money purchase plans, and defined benefit plans include the entire account amounts. However, with traditional and Roth IRAs, the exemption is limited to a total value of $1,171,650 per person for all accounts held by the debtor (not per account). The total value amount is adjusted every three years for inflation. The relevant statutes: 11 U.S.C. §522(d)(12) for Federal bankruptcy exemptions; 11 U.S.C. §522(b)(3)(C) for state bankruptcy exemptions.

ASSET EXEMPTION LAW
Wisconsin Homestead Property occupied or intended to be occupied by debtor to $75,000; $150,000 for a married couple filing jointly 815.20
Wages 75% of weekly net income or 30 times the greater of the Federal or state minimum hourly wage. Bankruptcy judge may authorize more for low-income debtors. 815.18(3)(h)
Automobile Up to $4,000; unused portion of $12,000 personal property exemption may be added 815.18(3)(g)
Other property Federal disability insurance benefits 815.18(3)(ds)
Alimony and child support needed for support 815.18(3)(c)
Household goods and furnishings, clothing, keepsakes, jewelry, appliances, books, musical instruments, firearms, sporting goods, animals, and other tangible personal property to $12,000 total 815.18(3)(d)
Deposit accounts to $5,000 815.18(3)(k)
Burial plot, tombstone, coffin 815.18(3)(a)
Equipment, inventory, farm products, books, and tools of trade to $15,000 total 815.18(3)(b)
Wildcard None

Note: While this reference information is current as of October 2010, it may not reflect the most up-to-date exemption figures on official state of Pennsylvania bankruptcy court statutes.

Back to all State Bankruptcy Exemptions
Go to Complete State of Wisconsin bankruptcy exemptions laws
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