West Virginia Bankruptcy Exemptions
UPDATED: Oct 21, 2024
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UPDATED: Oct 21, 2024
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.
UPDATED: Oct 21, 2024
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
UPDATED: Oct 21, 2024
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
| Assets | Exemption | State Statutes |
|---|---|---|
| Homestead | Real or personal property used as residence to $25,000; unused portion of homestead may be applied to any property (husband & wife may double).’ | W. Va. Code’ 38-10-4 (a) |
| Insurance | Fraternal benefit society benefits. | W. Va. Code’ 33-23-21 |
| Group life insurance policy or proceeds. | W. Va. Code’ 33-6-28 | |
| Health or disability benefits. | W. Va. Code’ 38-10-4 (j)(3) | |
| Life insurance payments from policy for person you depended on, needed for support. | W. Va. Code’ 38-10-4 (k)(3) | |
| Unmatured life insurance contract’s accrued dividend, interest, or loan value to $8,000, if debtor owns contract & insured is either debtor or a person on whom debtor is dependent. | W. Va. Code’ 38-10-4 (h) | |
| Unmatured life insurance contract, except credit insurance policy. | W. Va. Code’ 38-10-4 (g) | |
| Misc. | Alimony, child support needed for support.’ | W. Va. Code’ 38-10-4 (j)(4) |
| Property of business partnership.’ | W. Va. Code’ 47B-5-4 | |
| Pensions & Retirement Savings | ERISA-qualified benefits, IRAs needed for support. | W. Va. Code’ 38-10-4 (j)(5) |
| Teachers. | W. Va. Code’ 18-7A-30 | |
| Public employees. | W. Va. Code’ 5-10-46 | |
| Personal Property | Animals, crops, clothing, appliances, books, household goods, furnishings, musical instruments to $400 per item, $8,000 total. | W. Va. Code’ 38-10-4 (c) |
| Burial plot to $25,000, in lieu of homestead. | W. Va. Code’ 38-10-4 (a) | |
| Health aids. | W. Va. Code’ 38-10-4 (i) | |
| Jewelry to $1,000. | W. Va. Code’ 38-10-4 (d) | |
| Lost earnings payments needed for support. | W. Va. Code’ 38-10-4 (k)(5) | |
| Motor vehicle to $2,400. | W. Va. Code’ 38-10-4 (b) | |
| Personal injury recoveries to $15,000. | W. Va. Code’ 38-10-4 (k)(4) | |
| Prepaid higher education tuition trust fund and savings plan payments. | W. Va. Code’ 38-10-4 (k)(6) | |
| Wrongful death recoveries for person you depended on, needed for support. | W. Va. Code’ 38-10-4 (k)(2) | |
| Public Benefit | Aid to blind, aged, disabled; general assistance. | W. Va. Code’ 9-5-1 |
| Crime victims’ compensation needed for support. | W. Va. Code’ 38-10-4 (k)(1) | |
| Social Security needed for support. | W. Va. Code’ 38-10-4 (j)(1) | |
| Unemployment compensation. | W. Va. Code’ 38-10-4 (j)(1) | |
| Veterans’ benefits needed for support. | W. Va. Code’ 38-10-4 (j)(2) | |
| Workers’ compensation. | W. Va. Code’ 23-4-18 | |
| Tools of Your Trade | Implements, books, & tools of trade to $1,500.’ | W. Va. Code’ 38-10-4 (f) |
| Wages | Minimum 30 times the federal minimum hourly wage per week; bankruptcy judge may authorize more for low-income debtors. | W. Va. Code’ 38-5A-3 |
| Wildcard | $800 plus unused portion of homestead or burial exemption. | W. Va. Code’ 38-10-4 (e) |
Resources:
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Mary Martin
Published Legal Expert
Mary Martin has been a legal writer and editor for over 20 years, responsible for ensuring that content is straightforward, correct, and helpful for the consumer. In addition, she worked on writing monthly newsletter columns for media, lawyers, and consumers. Ms. Martin also has experience with internal staff and HR operations. Mary was employed for almost 30 years by the nationwide legal publi...
Published Legal Expert
Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.