Idaho Bankruptcy Exemptions

This list of exemptions updated December 2009. All law references are to Idaho Code unless otherwise noted. Federal bankruptcy exemptions are not available in Idaho.

Homestead

55-1003 - Real property or mobile home up to $100,000. Sale proceeds are exempt for 6 months. If property is not yet occupied, must file homestead declaration (55-1004).

Personal Property

11-603 - Health aids; burial plot.

11-604 - Personal injury and wrongful death recoveries needed for support. College savings program account.

11-605 - Motor vehicle up to $5,000; jewelry up to $1,000; clothing, pets, 1 firearm, appliances, furnishings, books, musical instruments, family portraits, and sentimental heirlooms up to $500 per item and $5,000 total; crops cultivated by the debtor on up to 50 acres (including water rights up to 160 inches) up to $1,000; any tangible personal property up to $800.

11-606 - Proceeds for damaged exempt property, for up to 3 months after received.

45-514 - Building materials.

Wages

11-207 - Either a minimum of 75% of earned but unpaid wages or 30 times the federal hourly minimum wage - whichever is greater; pension paymetns. Judge may approve more for low income debtors.

Pensions

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

11-604 - Retirement plans, government and private pensions, IRAs, Roth IRAs, Keoghs, etc.

50-1517 - Police officers.

55-1011 - ERISA-qualified benefits.

59-1317 - Public employees.

72-1417 - Firefighters.

Public Benefits

11-603 - Unemployment compensation, Social Security, veterans' benefits, and federal, state, and local public assistance.

56-223 - General assistance, and aid to blind, aged, and disabled.

72-802 - Workers' compensation.

Tools of Trade

11-605 - Tools, books and implements of trade up to $1,500; arms, uniforms, and accoutrements required to be kept by peace officer, National Guard or military personnel.

Alimony and Child Support

11-604 - Alimony and child support needed for support.

Insurance

11-603 - Medical or hospital care benefits and amount in medical savings account.

11-604 - Life insurance proceeds for beneficiaries other than the insured.

11-605 - Unmatured life insurance contract, other than credit life insurance contract; unmatured life insurance contract under which the insured is the debtor or the debtor's dependent, up to $5,000.

41-1834 - Death and disability benefits.

41-1833 - Life insurance proceeds, dividends, interest, loan, cash or surrender value if the insured is not the beneficiary.

41-1835 - Group life insurance benefits.

41-1836 - Annuity contract proceeds up to $1,250 per month.

41-1930 - Life insurance proceeds if policy prohibits use to pay creditors.

41-3218 - Fraternal benefit society benefits.

55-1008 - Up to the amount of the homestead exemption, homeowner's insurance proceeds.

Misc.

23-514 - Liquor licenses.

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