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Vermont Bankruptcy

Exemption Court
Vermont Bankruptcy Exemption
Homestead:
Homestead consisting of dwelling house, outbuildings, and land on which it situates and including rent, tenancy, profits, issues etc the quantum of exemption may go up to $ 75,000.

Wages:
Disposable earnings up to the extent of 75% of the weekly earnings per week OR 30 times the federal minimum hourly wage, whichever is greater.

Motor Vehicles:
Automobile can be exempted up to the extent of $ 2,500.

Professional Books and Tools:
Professional books and implements exempted up to the extent of $ 5,000.

Jewelry:
Personal, family or household jewelry exempted up to the extent of $ 500.

Wedding Ring:
One wedding ring.

Proceeds of life insurance policies:
Up to the quantum of $ 500.

Harvesting crops:
Growing crops are exempted up to the extent of $ 5,000.

Household Furniture:
Furniture, implements, appliances, books, wearing apparel, animal, crops or musical instruments of debtor or his/her dependents are exempted up to the extent of $ 2,500.

Personally Chosen Property:
$ 400 plus up to $ 7,000 of any unused exemption.

Bank Balance:
Bank deposits are exempted up to $ 700.

Annuity Contracts:
Annuity contract benefits are exempted up to the extent of $ 350 per month.

Health Insurance:
Heath Insurance benefits up to the extent of $ 200.

Other Specific Exemption:
  • Cook stove, heating appliance, refrigerator, freezer, water heater & sewing machines. 10 Cords of firewood or 500 gallons of oil. 500 gallons of bottled gas.
  • Food and Husbandry: 1 Cow, 2 goats, 10 sheep, 10 chickens; 3 swarms of bees & their honey; feed to last for 3 month; 2 harnesses, 2 halters, 2 chains, plow & ox yoke; yoke of oxen or steers & 2 horses.
Total or Absolute Exemptions for:
  • Self directed retirement plans and IRAs.
  • Professionally prescribed health aids.
  • Unmatured Life Insurance Contracts.
  • Personal earnings of wards and wife.
  • Fire Insurance proceeds of for loss of exempt properties.
  • Proceeds of group life insurance and group disability payments.
  • Beneficial interests in insurance policies or annuity contracts containing spendthrift clauses.
  • Fraternal Benefit and Society Benefits.
  • Unemployment's compensation.
  • Workmen's compensation.
  • Specific partnership property.
  • Vermont Employees Retirement System benefits and funds.
  • Public assistance payments.

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