Missouri 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.
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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.
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.
Federal bankruptcy exemptions available? NO
Though not included in the Missouri statutory homestead exemption, a court has held that property owned as a tenancy by the entirety by a married couple may be exempt if only one of the spouses owes the debt. A court has also held that a cause of action for personal injury is exempt from bankruptcy.
The references to Missouri statutes are to the Missouri Revised Statutes.
Resources:
United States Bankruptcy Court, Eastern District of Missouri
United States Bankruptcy Court, Western District of Missouri
| Missouri Bankruptcy Exemptions | ||
|---|---|---|
| Assets | Exemption | State Statute |
| Homestead | Real property: up to $15,000 for single or joint owners. | 513.475 |
| Mobile home: up to $5,000 for single or joint owners. | 513.430(6) | |
| Insurance | Life insurance proceeds or assessment plan: all. | 377.090 |
| Stipulated insurance premiums: all. | 377.330 | |
| Life insurance policy (unmatured): all. | 513.430(7) | |
| Benefits from fraternal benefit society. | 513.430(8) | |
| Life insurance dividends/loan value/interest: up to $150,000 for policies purchased over 6 months before filing for bankruptcy. | 513.430(8) | |
| Disability or illness benefits: all. | 513.430(10)(c) | |
| Miscellaneous | Property belonging to a business partnership: all. | 358.250 |
| Child support or alimony: up to $750 per month. | 513.430(10)(d) | |
| Pensions | Federal pension exemptions. | |
| Pensions of employees of cities with 100,000 or more people. | 71.207 | |
| Public officer and employee pensions: all. | 70.695; 70.755 | |
| Police department employee pensions: all. | 86.190; 86.353; 86.1430 | |
| Firefighter pensions: all. | 87.090; 87.365; 87.485 | |
| Pensions for employees of highway and transportation departments: all. | 104.250 | |
| State employee pensions: all. | 104.540 | |
| Teacher pensions: all. | 169.090 | |
| Employee benefit spendthrift trust: all. | 456.014 | |
| IRAs, Roth IRAs, ERISA qualified benefits, and other retirement accounts: all necessary for support. | 513.430(10)(e), (f) | |
| Personal Property | Burial grounds: up to $100 for up to 1 acre. | 214.190 |
| Household goods and furnishings, appliances, clothing, books, musical instruments, animals, and crops: up to $3,000 total. | 513.430(1) | |
| Wedding rings: up to $1,500. | 513.430(2) | |
| Other jewelry: up to $500. | 513.430(2) | |
| Motor vehicle: up to $3,000. | 513.430(5) | |
| Health aids: all professionally prescribed. | 513.430(9) | |
| Recoveries for wrongful death of person on whom debtor was dependent: all. | 513.430(11) | |
| Public Benefits | Workers compensation benefits: all. | 287.260 |
| Unemployment compensation benefits: all. | 288.380(10)(l); 513.430(10)(c) | |
| Public assistance benefits: all. | 513.430(10)(a) | |
| Social Security benefits: all. | 513.430(10)(a) | |
| Veteran’s benefits: all. | 513.430(10)(b) | |
| Crime victim’s compensation benefits: all. | 595.025 | |
| Tools of Your Trade | Tools of trade, implements, books: up to $3,000 total. | 513.430(4) |
| Wages | Wages of common laborer or servant: up to $90 total. | 513.470 |
| Wages: at least 75% of the weekly earnings for someone other than the head of household and at least 90% of the weekly earnings for head of household or 30 times the federal minimum hourly wage, whichever is greater. The bankruptcy judge may allow a larger exemption for low-income debtors. | 525.030 | |
| Wildcard | For nonhead of household, any property: up to $600. | 513.430(3) |
| For head of household, any property: up to $1,250 plus up to an additional $350 for each child. | 513.440 | |
Find the right lawyer for your legal issue.
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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.