Though not included in the statutory homestead exemption, a court has held that property owned by a married couple as a tenancy in the entirety may be exempt when only one of the spouses is the debtor. A court has also held that IRAs, Roth IRAs, and other retirement plans are exempt from bankruptcy.
The references to Delaware statutes are to the Delaware Code (chapter-section).
| Delaware Bankruptcy Exemptions |
|
|
| Assets |
Exemption |
State Statute |
|
| Homestead |
Residence consisting of real property or manufactured home: up
to $50,000 for single person or married couple. |
10-4914(c) |
|
| Insurance |
Life insurance proceeds or avails: all. |
18-2725 |
|
|
Disability or health benefits: all. |
18-2726 |
|
|
Group life insurance proceeds/policy: all. |
18-2727 |
|
|
Annuity proceeds: up to $350 per month. |
18-2728 |
|
|
Life insurance proceeds: all if there is a clause prohibiting
the proceeds from being used to pay the creditors of the beneficiary. |
18-2729 |
|
|
Fraternal benefit society benefits: all. |
18-6218 |
|
| Pensions |
Federal pension exemptions. |
|
|
|
Kent county employee pensions: all. |
9-4316 |
|
|
Police officer pensions: all. |
11-8803 |
|
|
Volunteer firefighter pension: all. |
16-6653 |
|
|
State employee pensions: all. |
29-5503 |
|
| Personal Property |
Total person property exemptions: up to $25,000 for each
debtor. |
|
|
|
Spendthrift trust principal and interest: all up to personal
property exemption limit. |
12-3536 |
|
|
Family pictures, Bible, books: all up to personal property
exemption limit. |
10-4902(a) |
|
|
Burial plot: all up to personal property exemption limit. |
10-4902(a) |
|
|
Church pew or seat in any other place of worship: all up to
personal property exemption limit. |
10-4902(a) |
|
|
Clothing and jewelry: all up to personal property exemption
limit. |
10-4902(a) |
|
|
Sewing machine: all up to personal property exemption limit. |
10-4902(c) |
|
|
Pianos and leased organs: all up to personal property
exemption limit. |
10-4902(d) |
|
|
College investment plans: up to $5,000 for the year before
filing for bankruptcy or the average of the contributions of the past 2
years, whichever is greater. |
10-4902(a) |
|
| Public Benefits |
Crime victim compensation: all. |
11-9011 |
|
|
Workers’ compensation benefits: all. |
19-2355 |
|
|
Unemployment compensation benefits: all. |
19-3374 |
|
|
General assistance payments: all. |
31-513 |
|
|
Disability and aged benefits: all. |
31-513 |
|
|
Aid for the blind: all. |
31-2309 |
|
| Tools of Your Trade |
Tools, implements, and fixtures: up to $75 in New Castle and
Sussex counties; up to 50 in Kent County. |
10-4902(b) |
|
|
Tools of trade: up to $15,000 for each debtor. |
10-4914(c) |
|
|
Motor vehicle necessary for employment: up to $15,000 for each
debtor. |
10-4914(c) |
|
| Wages |
Wages: 85% of unpaid earned income. |
10-4913 |
|
| Wildcard |
Personal property (except tools of trade): up to $500 for head
of household. |
10-4903 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
State Law Center
|
Legal Resource Directory
|
Legal Articles
|
Insurance Advice and Quotes
|
FreeAdvice Answers
|
Community Forums
