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Montana Bankruptcy

Exemption Court
Montana Bankruptcy Exemption
Homestead: Homestead consisting of mobile home or dwelling in which debtor resides and land on which it is located, a written declaration of homestead must be recorded with county clerk. This includes noticeable proceeds for 18 months after sale.

Household Goods:
Household furnishing goods, appliances, jewelry, wearing apparel, books, firearms, sporting goods, animals, feed, crops and musical instruments exempted up to the extent of $ 600 per item and $ 4,500 aggregate value.

Automobile:
One motor vehicle up to the worth of $ 2,500.

Household goods:
Household goods and furniture, any personal property held primarily for the debtor himself/herself or any dependent up to the extent of $ 2,000.

Professional Items:
Implements, professional books, tools of trade of debtor or dependent are exempted up to the extent of $ 3000.

Life Insurance:
Unmatured life insurance contracts up to the extent of $ 4,000.

Wages:
Aggregate net earnings of debtor 75 % or 30 times the federal minimum hourly wage per week, whichever is greater.

Cooperative Salary:
Salaries in cooperative associations up to the extent of $ 500 par value.

Disability Insurance Proceeds:
Disability insurance proceeds up to $ 350 per month.

Total or Absolute Exemptions for:
  • Specific partnership benefits.
  • Professionally prescribed health aids.
  • Veteran's benefits.
  • Disability or illness benefit.
  • IRAs qualified under I.R.C.
  • Medical, surgical or hospital care benefits, if used for medical care.
  • Burial Plot of debtor and family.
  • Benefits from state authorized Retirement System Plan.
  • Group life insurance policies and proceeds.
  • Fraternal benefit society benefits.
  • Disability insurance benefit.
  • Silicosis benefits.
  • Cemetery association loss.
  • Specific partnership benefits.
  • Fireman's pension benefits.
  • Public assistance benefits.
  • Unemployment compensation benefits.
  • Worker's compensation benefits.
  • Proceeds of annuity contracts.

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