This list of exemptions updated January 2009. All law references are to Montana Code Annotated unless otherwise noted. Federal bankruptcy exemptions are not available in Montana.

Homestead

70-32-105 & 70-32-104 & 70-32-201 - Real property or mobile home up to $250,000. Must occupy at time of filing for bankruptcy, and must record a homestead declaration before filing. Insurance, condemnation or sale proceeds for 18 months.

Personal Property

25-13-608 - Health aids; burial plot.

25-13-609 - Motor vehicle up to $2,500; clothing, household goods and furnishings, appliances, jewelry, books, animals and feed, musical instruments, firearms, sporting goods, and crops up to $600 per item and $4,500 total.

25-13-610 - Proceeds for damaged or lost exempt property for 6 months after receipt.

35-15-404 - Cooperative association shares up to $500 value.

Wages

25-13-614 - The greather of the following: 30 times the federal minimum hourly wage or a minimum of 75% of earned but unpaid wages. Judge may approve more for low income debtor.

Pensions

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

19-2-1004 - Public employees.

19-19-504 & 19-18-612 - Police officers and firefighters.

19-20-706 - Teachers.

19-21-212 - University system employees.

25-13-608 - Roth IRA and IRA contributions and earnings that were made before the judgement is filed.

31-2-106 - ERISA-qualified benefits up to 15% of annual income, if deposited at least 1 year before filing.

Public Benefits

25-13-608 - Social Security, veterans', & local public assistance benefits.

39-71-743 - Workers' compensation.

39-73-110 - Silicosis benefits.

39-51-3105 - Unemployment compensation.

53-2-607 - Aid to aged and disabled, vocational rehabilitation to the blind, subsidized adoption payments.

53-9-129 - Crime victims' compensation.

Tools of Trade

25-13-609 - Tools, books, and instruments of trade up to $3,000.

25-13-613 - Arms, uniforms, and accoutrements needed to carry out government functions.

Alimony and Child Support

25-13-608 - Alimony and child support.

Insurance

25-13-608 & 33-15-513 - Disability or illness proceeds, avails or benefits; medical or hospital benefits; unmatured life insurance contracts.

33-7-522 - Fraternal benefit society benefits.

33-15-512 - Group life insurance policy or proceeds.

33-15-514 - Annuity contract proceeds up to $350 per month.

33-20-120 - Life insurance proceeds if policy prohibits use to pay creditors.

80-2-245 - Hail insurance benefits.

Other - Add any applicable Federal Nonbankruptcy Exemptions