This list of exemptions updated January 2009. All law references are to Vermont Statutes Annotated unless otherwise noted. Federal Bankruptcy Exemptions are allowed in Vermont.

Homestead

27-101 - $75,000. May include outbuildings, rents, issues, and profits. Spouse of deceased owner may claim (27 V.S.A. § 105). Tenancies by the entirety are exempt without limit as to debts of one spouse [In m McQueen, 21 B.R. 736 (D. Ver. 1982)].

Personal Property

12-2740 - Motor vehicles up to $2,500; clothing, goods, furnishings, appliances, books, musical instruments, animals and crops up to $2,500 total; refrigerator, stove, freezer, water heater, heating unit and sewing machines; health aids; bank deposits up to $700; wedding ring; jewelry up to $500; 500 gallons of oil, 5 tons of coal or 10 cords of firewood; 500 gallons of bottled gas; lost future earnings for yourself or a person you depended upon; personal injury and wrongful death recoveries for a person you depended upon; 1 cow, 10 sheep, 10 chickens, 3 swarms of bees, and feed to last 1 winter; 1 yoke of oxen or steers, 2 horses, 2 harnesses, 2 halters, 2 chains, 1 plow and 1 ox yoke; growing crops up to $5,000.

12-2740 - $400 of any property; plus $7,000, less any amount claimed for clothing, goods, furnishings, appliances, books, musical instruments, animals, crops, motor vehicle, jewelry, tools of trade and growing crops, of any property.

Wages

12-3170 - The greater of the following: 30 times the federal minimum hourly wage or minimum of 75% of disposable weekly earnings. Judge may approve more for low income debtors; all wages if you received welfare during the 2 months prior to filing for bankruptcy.

Pensions

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

3-476 - State employees.

12-2740 - Self-directed accounts including IRAs and Keoghs as long as contributions were made more than 1 year before filing; other pensions.

16-1946 - Teachers.

24-5066 - Municipal employees.

Public Benefits

12-2740 - Veterans' benefits, Social Security, and crime victims' compensation needed for support.

21-681 - Workers' compensation.

21-1376 - Unemployment compensation.

33-124 - General assistance; aid to blind, aged, and disabled.

Tools of Trade

12-2740 - Tools and books of trade up to $5,000.

Alimony and Child Support

12-2740 - Alimony and child support needed for support.

Insurance

8-3705 - Life insurance proceeds if policy prohibits use to pay creditors.

8-3706 - Life insurance proceeds if insured is not the beneficiary.

8-3708 - Group life or health benefits.

8-3709 - Annuity contract benefits up to $350 per month.

8-4086 - Health benefits up to $200 per month.

8-4478 - Fraternal benefit society benefits.

12-2740 - Unmatured life insurance contract (but not credit insurance policy); disability or illness benefits needed for support; life insurance proceeds for a person you depended upon.

Other - Add any applicable Federal Nonbankruptcy Exemptions