Washington D.C. Bankruptcy Exemptions

This is a list of some of the available exemption in the District of Columbia. You can obtain and more detailed list of exemptions by contacting a qualified bankruptcy attorney in your area. They will be able to list and explain all of the federal and state exemptions. There is certain property, which is excluded or exempt that the debtor can keep based on their specific situation and personal income. An attorney can perform a detailed analysis of your personal situation and advise you of your options. Contact an attorney today.

Homestead: Homestead protection greater than $125,000 requires state residency for at least 40 months before claim, Any property used as a residence or co-op that debtor or debtor and spouse uses as a residence, Federal Exemption- Real property, including co-op or mobile home, or burial plat to $20,000; unused portion of homestead to $10,125 may be applied to any property

Insurance: Disability benefits, Life Insurance payments, Fraternal benefit society benefits, Group life insurance policy or proceeds, Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors, Life insurance proceeds or avails, Un-matured life insurance contract other than credit life insurance, Other insurance proceeds to $200 per month, for a maximum of 2 months

Miscellaneous: Alimony and/or child support

Pensions: Tax-exempt retirement accounts, including 401(k)s, 403(b)s, SEP and SIMPLE IRAs, defined benefit plans, and profit sharing and money purchase plans. ERISA qualified benefits, including IRAs, ROTH IRAs, Keoghs, and other qualified benefits to maximum deductible contribution, Traditional and ROTH IRAs to $1 million per person, Any stock bonus, annuity, pensions, or profit-sharing plan, Judges, Public school teachers, DC government employees

Personal property: All family pictures and family library to $400, Appliances, clothing, household furnishings, books, musical instruments, and pets to $425 per item or $8,625 total, Cooperative association holdings to $50, Cemetery and burial funds, Food for three months, Health aids, Higher education tuition savings accounts, Motor vehicle to $2,575, Wrongful death payments for person debtor was a dependent upon or necessary for support, Compensation for pecuniary loss, Residential condominium deposit, Uninsured motorist benefits

Public Benefits: Crime victims’ compensation, Unemployment benefits, Social Security, Aid to blind, aged, and/or disabled, public/General assistance, Veterans’ benefits, Workers’ compensation

Tools of Trade: Seal and documents of notary public, Implements, professional books, or tools of trade or business to $1,625, Mechanics tools to $200, Library, furniture, tools of professional or artist to $300

Wages: Minimum 75% of earned but unpaid wages, pension payments; judge may authorize more for low-income debtors, Nonwage earnings to $200 month for head of family; $60 per month for a maximum of two months, Payment for loss of future earnings

Wildcard: Up to $850 in any property, plus up to $8,075 of unused homestead exemption

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