Wisconsin Bankruptcy Exemptions

This list of exemptions updated December 2009. All law references are to Wisconsin Statutes Annotated unless otherwise noted. Federal Bankruptcy Exemptions are allowed in Wisconsin.

Homestead

815.20 - $40,000. Sale proceed exempt for 2 years after sale provided you intend to acquire another home.

Personal Property

14.64 - College savings account or tuition trust fund.

20.921 - Wages used to purchase savings bonds.

182.004 - Tenant's stock or lease interest in co-op housing up to homestead amount.

815.18 - Automobile up to $1,200 (plus any of the $5,000 personal property exemption that is unused); household goods and furnishings; wearing apparel, keepsakes, jewelry, appliances, books, musical instruments, firearms, sporting goods, animals or other items for family use up to $5,000 total; burial plot, monument, tombstone, etc.; and bank deposits up to $1,000; wrongful death proceeds needed for support; personal injuries recoveries up to $25,000; fire and casualty proceeds for destroyed property that is exempt for 2 years of receipt; lost future earnings recoveries needed for support.

Wages

303.065 - Wages of inmates who are under a work-release plan.

303.08 - County jail prisoners' wages.

303.10 - County work camp prisoners' wages.

815.18 - 75% of net wages, and no less that 30 times the state or federal minimum wage, whichever is greater. Judge may approve more for low-income debtors.

Pensions

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

40.08 - Public employees.

62.63 - Certain municipal employees.

815.18 - Police officers and firefighters who work in a city greater than 100,000 people; military pensions; and public and private retirement benefits.

Public Benefits

45.03 - Veterans' benefits.

108.13 - Unemployment compensation.

49.46 - Social service payments.

949.07 - Crime victims' compensation.

102.27 - Workers' compensation.

Tools of Trade

815.18 - Equipment, inventory, farm products, and professional books used in the business of the debtor or a dependent, up to $7,500.

Alimony and Child Support

815.18 - Alimony and child support needed for support.

Insurance

614.96 - Fraternal benefit society benefits.

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

815.18 - Unmatured life insurance contracts up to $4,000 in value in accrued dividends, interest or loan value (except for credit life contracts) if owned by debtor and insuring debtor, dependent, or person debtor is dependent upon; federal disability benefits; life insurance proceeds if debtor was dependent upon insured, to extent necessary to support debtor or family.

Miscellaneous

178.21 - Business partnership property.

Other - Add any applicable Federal Nonbankruptcy Exemptions

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