Idaho Bankruptcy Exemptions

Homestead

55-1003 - Real property or mobile home up to $100,000. Sale proceeds are exempt for 6 months. If property is not yet occupied, must file homestead declaration (55-1004).

Personal Property

11-603 - Health aids; burial plot.

11-604 - Personal injury and wrongful death recoveries needed for support. College savings program account.

11-605 - Motor vehicle up to $5,000; jewelry up to $1,000; clothing, pets, 1 firearm, appliances, furnishings, books, musical instruments, family portraits, and sentimental heirlooms up to $500 per item and $5,000 total; crops cultivated by the debtor on up to 50 acres (including water rights up to 160 inches) up to $1,000; any tangible personal property up to $800.

11-606 - Proceeds for damaged exempt property, for up to 3 months after received.

45-514 - Building materials.

Wages

11-207 - Either a minimum of 75% of earned but unpaid wages or 30 times the federal hourly minimum wage - whichever is greater; pension paymetns. Judge may approve more for low income debtors.

Pensions

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

11-604 - Retirement plans, government and private pensions, IRAs, Roth IRAs, Keoghs, etc.

50-1517 - Police officers.

55-1011 - ERISA-qualified benefits.

59-1317 - Public employees.

72-1417 - Firefighters.

Public Benefits

11-603 - Unemployment compensation, Social Security, veterans' benefits, and federal, state, and local public assistance.

56-223 - General assistance, and aid to blind, aged, and disabled.

72-802 - Workers' compensation.

Tools of Trade

11-605 - Tools, books and implements of trade up to $1,500; arms, uniforms, and accoutrements required to be kept by peace officer, National Guard or military personnel.

Alimony and Child Support

11-604 - Alimony and child support needed for support.

Insurance

11-603 - Medical or hospital care benefits.

11-604 - Life insurance proceeds for beneficiaries other than the insured.

11-605 - Unmatured life insurance contract, other than credit life insurance contract; unmatured life insurance contract under which the insured is the debtor or the debtor's dependent, up to $5,000.

41-1834 - Death and disability benefits.

41-1833 - Life insurance proceeds, dividends, interest, loan, cash or surrender value if the insured is not the beneficiary.

41-1835 - Group life insurance benefits.

41-1836 - Annuity contract proceeds up to $1,250 per month.

41-1930 - Life insurance proceeds if policy prohibits use to pay creditors.

41-3218 - Fraternal benefit society benefits.

55-1008 - Up to the amount of the homestead exemption, homeowner's insurance proceeds.

Misc.

23-514 - Liquor licenses.

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This website contains information related to law and is NOT LEGAL advice. It contents is for information only. If you need legal advice, please consult an attorney or act as your own.
All documents typed are prepared by Rica Gilmore.