Minnesota Bankruptcy Forms - MN Bankruptcy Exemptions and Court Information

FEDERAL BANKRUPTCY EXEMPTIONS ARE AVAILABLE All law references are to Minnesota Statutes Annotated.
ASSET	EXEMPTION	LAW PROVISION
HOMESTEAD	Real property, mobile home or manufactured home to $200,000 or, if the homestead is used primarily for agricultural purposes, $500,000; cannot exceed ½ acre in city or 160 acres elsewhere	510.01, 510.02, 550.37 subd. 12
INSURANCE	Accident or disability proceeds Fraternal benefit society benefits Life insurance proceeds if beneficiary is spouse or child of insured to $32,000, plus $8000 per dependent Police, fire or beneficiary association benefits Unmatured life insurance contract dividends, interest or loan value to $7,600 if insured is debtor or someone debtor depends on	550.39 64B.18 550.37 subd. 10 550.37 subd. 11 550.37 subd. 23
MISCELLANEOUS	Earnings of minor child Property of business partnership	550.37 subd. 15 323.24
PENSION	ERISA-qualified benefits needed for support, which do not exceed $57,000 in present value IRAs needed for support, which do not exceed $57,000 in present value Private retirement benefits (only benefits building up) Public employees State employees State troopers	550.37 subd. 24 550. 37 subd. 24 181B.16 353.15 352.96 352B.071
PERSONAL PROPERTY	Appliances, furniture, radio, phonographs & TV to $8,500 value Bible, books & musical instruments Burial plot; church pew or seat Clothing (includes watch), food & utensils Motor vehicle to $3,800 (up to $38,000 if vehicle has been modified for disability) Personal injury recoveries Proceeds for damaged exempt property Wrongful death recoveries	550.37 subd. (4)(b) 550.37 subd. 2 550.37 subd. 3 550.37 subd. 4(a) 550.37 subd. 12(a) 550.37 subd. 22 550.37 subds. 9, 16 550.37 subd. 22
PUBLIC BENEFITS	AFDC, supplemental assistance, general assistance, SSI/SSA Crime victims compensation Unemployment compensation Veterans’ benefits Workers’ compensation	550.37 subd. 14 611A.60 268.17 subd. 2 550.38 176.175
TOOLS OF TRADE total tools of trade (except teaching materials) can’t exceed $13000	Farm machines, implements, livestock, farm produce & crops of farmers to $13,000 total Teaching materials (including books, chemical apparatus) of public school teacher Tools implements, machines, instruments, furniture, stock in trade & library to $9,500 total	550.37 subd. 5 550.37 subd. 8 550.37 subd. 6
WAGES	Earned but unpaid wages, paid within 6 months of returning to work if debtor received welfare in the past Minimum 75% of earned but unpaid wages Wages deposited into bank accounts for 20 days after depositing Wages of released inmates paid within 6 months of release	550.37 subd. 5 571.922 550.37 subd. 13 550.37 subd.14
WILD CARD	NONE

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