Alaska Bankruptcy Exemptions

This list of exemptions updated December 2009. All law references are to Alaska Statutes unless otherwise noted. Only the items in Alaska Statutes 9.38.010, 9.38.015(a), 9.38.017, 9.38.020, 9.38.025, & 9.38.030 may be exempted in bankruptcy. In In re McNutt, 87 B.R. 84 (9th Cir. 1988), the Federal Bankruptcy Exemptions were allowed.

Homestead

09.38.010 - Up to $70,200.

Personal Property

09.38.010 - Apartment or condo owners' association deposits.

9.38.015 - Burial plot; needed health aids; money held in mortgage escrow accounts after July 1, 2008; and tuition credits under advance college payment contract.

9.38.020 - Motor vehicle up to $3,900, if market value is no more than $26,000; pets up to $1,300; jewelry up to $1,300; and household goods, clothing, books, musical instruments, and family portraits and heirlooms up to $3,900.

9.38.030 - Personal injury and wrongful death recoveries, to the extent wages are exempt; cash or other liquid assets up to $1,820 or $2,860 for the sole wage earner with some restrictions.

9.38.060 - Proceeds from damaged, destroyed or lost exempt property.

34.35.105 - Building materials.

Wages

9.38.030 & 9.38.050 - Weekly net earnings up to $456, or up to $716 if sole wage earner in a household: If no regular pay, up to $1,820 paid in any month, or $2,860 if sole wage earner in household.

Pensions

11 U.S.C. § 522 - Tax exempt retirement accounts; traditional and Roth IRAs up to $1,095,000 per person.

9.38.015 - Teachers, judicial & public employees, and elected officers, as to benefits accruing.

9.38.017 - ERISA-qualified benefits, if deposited more than 120 days before filing; medical savings accounts.

9.38.030 - Payments being received from other pensions.

Public Benefits

9.38.015 - Alaska longevity bonus, crime victims' compensation and federally exempt public benefits. Prescription drug benefits for senior care. Alaska benefits for low-income seniors. Unemployment compensation.

23.30.160 - Workers' compensation.

43.23.065 - 20% of Permanent Fund dividends (this is income distributed to residents from the state's natural resources).

47.25.210 - General relief assistance.

47.25.550 - Assistance to blind, elderly and disabled adults:

Tools of Trade

9.38.020 - Implements, books or tools up to $3,500.

Alimony and Child Support

9.38.015 - Child support if received from a collection agency.

9.38.030 - Alimony, to extent wages are exempt.

Insurance

9.38.015 & 9.38.030 - Medical and disability benefits.

9.38.025 - Life insurance or annuity contracts up to a $13,000.

21.84.240 - Fraternal benefit society benefits.

Misc.

9.38.015 - Liquor licenses.

9.38.100 - Business partnership property.

Other - Add any applicable Federal Nonbankruptcy Exemptions

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