| Assets | Exemption | State Statutes |
|---|---|---|
| Homestead | Real property or mobile home to $75,000; may also claim rents, issues, profits, & out-buildings (husband and wife may double). | Vt. Stat. Ann. tit. 27, § 101 |
|
|
Spouse of deceased owner may claim homestead exemption. | Vt. Stat. Ann. tit. 27, § 105 |
|
|
Property held as tenancy by the entirety may be exempt against debts owed by only one spouse. | In re McQueen, 21 B.R. 736 (D. Ver. 1982) |
| Tenancy by Entirety | Vermont recognizes tenancy by the entirety. Such interest, however, may be subject to certain debts and thus the exemption of such interests are also limited under the Bankruptcy Code pursuant to Code § 522(b)(2)(B). |
See VSA 15 § 67. Vt. Stat. Ann. tit. 15, § 67 |
|
|
Property held as tenancy by the entirety may be exempt against debts owed by only one spouse. |
Vt. Stat. Ann. tit. 12, § 2781 Lowell v. Lowell, 419 A2d 321 (Vt. 1980) In re McQueen, 21 B.R. 736 (D. Ver. 1982) Vt. Stat. Ann. tit. 15, § 67 |
| Insurance | Annuity contract benefits to $350 per month. | Vt. Stat. Ann. tit. 8, § 3709 |
| Disability benefits that supplement life insurance or annuity contract. | Vt. Stat. Ann. tit. 8, § 3707 | |
| Disability or illness benefits needed for support. | Vt. Stat. Ann. tit. 12, § 2740 (19)(C) | |
| Fraternal benefit society benefits. | Vt. Stat. Ann. tit. 8, § 4478 | |
| Group life or health benefits. | Vt. Stat. Ann. tit. 8, § 3708 | |
|
|
Health benefits to $200 per month. | Vt. Stat. Ann. tit. 8, § 4086 |
| Life insurance proceeds for person you depended on. | Vt. Stat. Ann. tit. 12, § 2740 (19)(H) | |
| Life insurance proceeds if beneficiary is not the insured. | Vt. Stat. Ann. tit. 8, § 3706 | |
| Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors. | Vt. Stat. Ann. tit. 8, § 3705 | |
| Unmatured life insurance contract other than credit. | Vt. Stat. Ann. tit. 12, § 2740 (18) | |
| Misc. | Alimony, child support. | Vt. Stat. Ann. tit. 12, § 2740 (19)(D) |
| Pensions & Retirement Savings | Municipal employees. | Vt. Stat. Ann. tit. 24, § 5066 |
|
|
Other pensions. | Vt. Stat. Ann. tit. 12, § 2740 (19)(J) |
|
|
Self-directed accounts (IRAs, Keoghs); contributions must be made 1 year before filing. | Vt. Stat. Ann. tit. 12, § 2740 (16) |
| State employees. | Vt. Stat. Ann. tit. 3, § 476 | |
| Teachers. | Vt. Stat. Ann. tit. 16, § 1946 | |
| Personal Property | Appliances, furnishings, goods, clothing, books, crops, animals, musical instruments to $2,500 total. | Vt. Stat. Ann. tit. 12, § 2740 (5) |
|
|
Bank deposits to $700. | Vt. Stat. Ann. tit. 12, § 2740 (15) |
|
|
Cow, 2 goats, 10 sheep, 10 chickens, & feed to last 1 winter; 3 swarms of bees plus honey; 5 tons coal or 500 gal. heating oil, 10 cords of firewood; 500 gal. bottled gas; growing crops to $5,000; yoke of oxen or steers, plow & ox yoke; 2 horses with harnesses, halters, & chains. | Vt. Stat. Ann. tit. 12, § 2740 (6),(9)-(14) |
|
|
Health aids. | Vt. Stat. Ann. tit. 12, § 2740 (17) |
|
|
Jewelry to $500; wedding ring unlimited. | Vt. Stat. Ann. tit. 12, § 2740 (3),(4) |
|
|
Motor vehicles to $2,500. | Vt. Stat. Ann. tit. 12, § 2740 (1) |
| Personal injury, lost future earnings, wrongful death recoveries for you or person you depended on. | Vt. Stat. Ann. tit. 12, § 2740 (19)(F), (G),(I) | |
| Stove, heating unit, refrigerator, freezer, water heater, & sewing machines. | Vt. Stat. Ann. tit. 12, § 2740 (8) | |
| Public Benefit | Aid to blind, aged, disabled; general assistance. | Vt. Stat. Ann. tit. 33, § 124 |
| Crime victims’ compensation needed for support. | Vt. Stat. Ann. tit. 12, § 2740 (19)(E) | |
| Social Security needed for support. | Vt. Stat. Ann. tit. 12, § 2740 (19)(A) | |
|
|
Unemployment compensation. | Vt. Stat. Ann. tit. 21, § 1367 |
| Veterans’ benefits needed for support. | Vt. Stat. Ann. tit. 12, § 2740 (19)(B) | |
| Workers’ compensation. | Vt. Stat. Ann. tit. 21, § 681 | |
| Tools of Your Trade | Books & tools of trade to $5,000. | Vt. Stat. Ann. tit. 12, § 2740 (2) |
| Wages | Entire wages, if you received welfare during 2 months before filing. | Vt. Stat. Ann. tit. 12, § 3170 |
|
|
Minimum 75% of weekly disposable earnings or 30 times the federal minimum hourly wage, whichever is greater; bankruptcy judge may authorize more for low-income debtors. | Vt. Stat. Ann. tit. 12, § 3170 |
| Wildcard | $400 of any property. | Vt. Stat. Ann. tit. 12, § 2740 (7) |
|
|
Unused exemptions for motor vehicle, tools of trade, jewelry, household furniture, appliances, clothing, & crops to $7,000. | Vt. Stat. Ann. tit. 12, § 2740 (7) |
Resources:
Vermont Bankruptcy Attorneys