Wisconsin Bankruptcy Exemptions
UPDATED: Oct 21, 2024
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Published Legal Expert
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 | Property you occupy or intend to occupy to $75,000; sale proceeds exempt for 2 years if you intend to purchase another home (husband & wife’s may double). | Wis. Stat. Ann. § 815.20 |
| Insurance | Federal disability insurance benefits. | Wis. Stat. Ann. § 815.18 (3) |
| Fraternal benefit society benefits. | Wis. Stat. Ann. § 614.96 | |
| Life insurance proceeds for someone debtor depended on, needed for support. | Wis. Stat. Ann. § 815.18 (3)(i)(a) | |
| Unmatured life insurance contract (except credit insurance contract) if debtor owns contract & insured is debtor or dependent, or someone debtor is dependent on. | Wis. Stat. Ann. § 815.18 (3)(f) | |
| Unmatured life insurance contract’s accrued dividends, interest, or loan value to $4,000 total, if debtor owns contract & insured is debtor or dependent, or someone debtor is dependent on. | Wis. Stat. Ann. § 815.18 (3)(f) | |
| Misc. | Alimony, child support needed for support. | Wis. Stat. Ann. § 815.18 (3)(c) |
| Property of business partnership. | Wis. Stat. Ann. § 178.21 (3)(c) | |
| Pensions & Retirement Savings | Certain municipal employees. | Wis. Stat. Ann. § 62.63 (4) |
| Firefighters, police officers who worked in city with population over 100,000. | Wis. Stat. Ann. § 815.18 (3) | |
| Military pensions. | Wis. Stat. Ann. § 815.18 (3)(n) | |
| Private or public retirement or disability benefits, including IRAs and KEOGHs, 401(k), subject to many exceptions & limitations. | Wis. Stat. Ann. § 815.18 (3)(j) | |
| Public employees. | Wis. Stat. Ann. § 40.08 (1) | |
| Personal Property | Burial plot, tombstone, coffin (husband & wife may double). | Wis. Stat. Ann. § 815.18 (3)(a) |
| College savings account or tuition trust fund. | Wis. Stat. Ann. § 14.63 (8) Wis. Stat. Ann. § 14.64 (7) |
|
| Fire & casualty proceeds for destroyed exempt property for 2 years from receiving. | Wis. Stat. Ann. § 815.18 (3)(e) | |
| Lost future earnings recoveries, needed for support. | Wis. Stat. Ann. § 815.18 (3)(i)(d) | |
| Tenant’s lease or stock interest in housing co-op, to homestead amount. | Wis. Stat. Ann. § 182.004 (6) | |
| Wages used to purchase savings bonds. | Wis. Stat. Ann. § 20.921 (1)(e) | |
| Wrongful death recoveries, needed for support. | Wis. Stat. Ann. § 815.18 (3)(i)(b) | |
| Household goods and furnishings, clothing, keepsakes, jewelry, appliances, books, musical instruments, firearms, sporting goods, animals, and other tangible personal property to $12,000 total (husband & wife may double). | Wis. Stat. Ann. § 815.18 (3)(d) | |
| Motor vehicles to $4,000 (husband & wife may double; unused portion of $12,000 personal property exemption may be added). | Wis. Stat. Ann. § 815.18 (3)(g) | |
| Personal injury recoveries to $50,000. | Wis. Stat. Ann. § 815.18 (3)(i)(c) | |
| Deposit accounts to $5,000. | Wis. Stat. Ann. § 815.18 (3)(k) | |
| Public Benefit | Crime victims’ compensation needed for support. | Wis. Stat. Ann. § 949.07 |
| Social services payments. | Wis. Stat. Ann. § 49.96 | |
| Unemployment compensation. | Wis. Stat. Ann. § 108.13 | |
| Veterans’ benefits under 45.03(8)(b). | Wis. Stat. Ann. § 45.03 (8)(b) Wis. Stat. Ann. § 815.18 (13)(k) |
|
| Workers’ compensation. | Wis. Stat. Ann. § 102.27 | |
| Tools of Your Trade | Equipment, inventory, farm products, books, and tools of trade to $15,000 total. | Wis. Stat. Ann. § 815.18 (3)(b) |
| Wages | 75% of weekly net income or 30 times the greater of the federal or state minimum hourly wage; bankruptcy judge may authorize more for low-income debtors. | Wis. Stat. Ann. § 815.18 (3)(h) |
| Wages of county jail prisoners. | Wis. Stat. Ann. § 303.08 (3) | |
| Wages of county work camp prisoners. | Wis. Stat. Ann. § 303.10 | |
| Wages of inmates under work-release plan. | Wis. Stat. Ann. § 303.065 (4)(b) | |
| Wildcard | None listed. |
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.