Wyoming, WY Bankruptcy Exemptions

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Wyoming, WY Bankruptcy Exemptions

BANKRUPTCY FEDERAL EXEMPTIONS ARE AVAILABLE.
All law references are to Wyoming, WY Bankruptcy Code.

All property of the debtor at the time of the filing for bankruptcy (and certain other property to be received in the future) becomes the property of the bankruptcy estate once bankruptcy is filed. This means that the bankruptcy trustee will take control of this property for purposes of satisfying the creditors. HOWEVER, there is certain property which is either excluded or exempt which the debtor will be able to keep. Property or asset exemption are determined based upon your specific situation, personal income and the individual laws of your state.

The best way to determine which property you will be entitled to keep requires a detailed analysis of your unique and personal situation. Although the following Federal and State Bankruptcy Asset Exemption is provided for your information, we highly recommend Finding a Good Bankruptcy Attorney to help guide you through the Bankruptcy Process.

Wyoming, WY Bankruptcy Exemptions

All law references are to Wyoming, WY Bankrutcy Code.

ASSET

EXEMPTION DESCRIPTION

LAW SECTION

Homestead	Real property you occupy to $10,000 or house trailer you occupy to $6000 (joint owners may double) Spouse or child of deceased owner may claim homestead exemption Property held as tenancy by the entirety may be exempt against debts owed by only one spouse	1-20-101, 1-20-102,1-20-104 1-20-103 In re Anselmi, 52 B.R. 479 (D. Wy. 1985)
Insurance	Annuity contract proceeds to $350 per month Disability benefits if clause prohibits proceeds from being used to pay creditors Fraternal benefit society benefits Group life or disability policy or proceeds Life insurance proceeds held by insurer, if clause prohibits proceeds from being used to pay beneficiary’s creditors	26-15-132 26-15-130 26-29-218 26-15-131 26-15-133
Miscellaneous	Liquor licenses & malt beverage permits	12-4-604
Pensions	Criminal investigators, highway officers Firefighters, police officers (only payments being received) Game & fish wardens Private or public retirement funds and accounts Public employees	9-3-620 15-5-209 9-3-620 1-20-110 9-3-426
Personal Property	Bedding, furniture, household articles & food to $2000 per person in the home Bible, schoolbooks & pictures Burial plot Clothing & wedding rings needed, up to $1000 Funeral contracts, pre-paid Motor vehicle to $2000	1-20-106(a) (iii) 1-20-106(a) (I) 1-20-106(a) (ii), 35-8-104 1-20-105 26-32-102 1-20-106(a) (iv)
Public Benefits	General assistance Crime victims’ compensation Unemployment compensation Workers’ compensation	42-2-113 1-40-113 27-3-319 27-14-702
Tools of Trade	Library & implements of professional to $2000 or tools, motor vehicle, implements, team & stock in trade to $2000	1-20-106(b)
Wages	Earnings of National Guard members Minimum 75% of earned but unpaid wages Wages of inmates on work release	19-2-501 1-15-511 7-16-308
Wild Card	None

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