Wyoming Bankruptcy Exemptions
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Updated By Kathleen Michon
Like all states, Wyoming has its own set of exemptions that you may use when filing for Chapter 7 or Chapter 13 bankruptcy. Exemptions determine what property (such as a home, car, instrument, retirement account, etc.) you may keep in a Chapter 7 bankruptcy, and how much you must pay to certain creditors in Chapter 13 bankruptcy. Some states allow debtors to choose between the state exemption system and a set of federal bankruptcy exemptions – but Wyoming is not one of them. In Wyoming, you must use the state exemptions below. In addition to this list, you may also use any applicable amounts in the federal nonbankruptcy exemptions.
Unless noted otherwise, if a couple is married and filing jointly in Wyoming, each spouse may claim the full amount of each exemption. This is informally called “doubling.”
To learn more about bankruptcy exemptions, including how they work, which state exemption system you should use, and special rules for the homestead exemption, see Bankruptcy Exemptions – What Can I Keep When I File for Bankruptcy?
Wyoming Bankruptcy Exemptions
Unless otherwise noted, all law references are to the Wyoming Statutes Annotated.
1-20-101 & 1-20-104 - Your home, including house trailers, up to $20,000. Tenancies by the entirety are exempt without limit as to debts of one spouse. Spouse or child of deceased owner may claim exemption.
1-20-105 - Clothing and wedding rings up to $2,000 total.
1-20-106 - Household articles, furniture, bedding and food up to $4,000 per person in the home; school books, pictures, and bible; motor vehicle up to $5,000; and burial plot.
1-20-111 - Medical savings account contributions.
26-32-102 - Pre-paid funeral contracts.
1-15-511; 1-15-408; 40-14-505 - The greater of the following: 30 times the federal minimum hourly wage or minimum of 75% of disposable weekly earnings.
7-18-114 - Wages of inmates in adult community corrections programs.
7-16-308 - Wages of inmates on work release.
19-9-401 - Earnings of national guard members.
25-13-107 - Wages of inmates in correctional industries programs.
11 U.S.C. § 522 - Tax exempt retirement accounts (including 401(k)s, 403(b)s, profit-sharing and money purchase plans, SEP and SIMPLE IRAs, and defined benefit plans).
11 U.S.C. § 522(b)(3)(C)(n) - IRAS and Roth IRAs to $1,171,150.
1-20-110 - Private or public retirement funds or accounts, including IRAs, Roth IRAs, and SEP IRAs.
9-3-426 - Public employees.
9-3-620 - Highway officers, criminal investigators, and game and fish wardens.
15-5-209 - Death benefits of firefighters.
15-5-313 - Police officers.
1-40-113 - Crime victims' compensation.
27-14-702 - Workers' compensation.
27-3-319 - Unemployment compensation.
42-2-113 - General assistance.
Tools of Trade
1-20-106 - Motor vehicle, tools, implements, team and stock in trade to $4,000; library and implements of a professional up to $4,000.
26-15-129 - Life insurance proceeds.
26-15-130 - Disability benefits if policy prohibits use to pay creditors.
26-15-131 - Group life or disability policy or proceeds.
26-15-132 - Annuity contract proceeds up to $350 per month.
26-15-133 - Life insurance proceeds if policy prohibits use to pay creditors.
26-29-218 - Fraternal benefit society benefits.
12-4-604 - Liquor licenses and malt beverage permits.
Add any applicable Federal Nonbankruptcy Exemptions.
This list includes the majority of bankruptcy exemptions available in Wyoming. However, it may not include all exemptions, and states often create exceptions to specific exemptions. In addition, Wyoming may have changed the amounts since this list was last updated. Check the Wyoming Statutes Annotated.