Email this page to a friendWISCONSIN Exemptions
For the purpose of judgment enforcement or in a bankruptcy proceeding, a debtor is generally entitled to certain statutory exemptions under state laws or federal laws, or both. Under the laws of Wisconsin, a homestead consists of the dwelling, including a building, condominium, mobile home, house trailer or cooperative, and so much of the land surrounding it as is reasonably necessary for use as a home, but not less than 0.25 acres, if available, and not exceeding 40 acre, within the limitation as to value under Sec. 815.20, except as to lien attaching or rights of devisees or heirs of person dying before the effective date of any increase of that limitation as to value. (Sec. 990.01(14).) The statutory homestead exemption allowed under Section 815.20 is $40,000.00 per household, except mortgages, laborers', mechanics' and purchase money liens and taxes. (Sec. 815.20.)
Some of the personal property which may be exempt from execution, attachment, and garnishment may include provisions for burial, business and farm property not to exceed $7,500.00, consumer goods not to exceed $5,000.00, federal disability insurance benefits, fire and casualty insurance, unmatured life insurance on the life of the debtor or his dependent with an aggregate interest not to exceed $4,000.00 in value, motor vehicles not to exceed $1,200.00 in aggregate value, life insurance claims, personal injury recovery not to exceed $25,000.00, retirement benefits, and deposit accounts in the aggregate value of $1,000.00. (Sec. 815.18.)
Homestead
815.20 - $40,000. Sale proceed exempt for 2 years after sale provided you intend to acquire another home.
Personal Property
14.64 - College savings account or tuition trust fund.
20.921 - Wages used to purchase savings bonds.
182.004 - Tenant's stock or lease interest in co-op housing up to homestead amount.
815.18 - Automobile up to $1,200 (plus any of the $5,000 personal property exemption that is unused); household goods and furnishings; wearing apparel, keepsakes, jewelry, appliances, books, musical instruments, firearms, sporting goods, animals or other items for family use up to $5,000 total; burial plot, monument, tombstone, etc.; and bank deposits up to $1,000; wrongful death proceeds needed for support; personal injuries recoveries up to $25,000; fire and casualty proceeds for destroyed property that is exempt for 2 years of receipt; lost future earnings recoveries needed for support.
Wages
303.065 - Wages of inmates who are under a work-release plan.
303.08 - County jail prisoners' wages.
303.10 - County work camp prisoners' wages.
815.18 - 75% of net wages, and no less that 30 times the state or federal minimum wage, whichever is greater. Judge may approve more for low-income debtors.
Pensions
11 U.S.C. § 522 - Tax exempt retirement accounts; Traditional and Roth IRAs up to $1,095,000 per person.
40.08 - Public employees.
62.63 - Certain municipal employees.
815.18 - Police officers and firefighters who work in a city greater than 100,000 people; military pensions; and public and private retirement benefits.
Public Benefits
45.03 - Veterans' benefits.
108.13 - Unemployment compensation.
49.46 - Social service payments.
949.07 - Crime victims' compensation.
102.27 - Workers' compensation.
Tools of Trade
815.18 - Equipment, inventory, farm products, and professional books used in the business of the debtor or a dependent, up to $7,500.
Alimony and Child Support
815.18 - Alimony and child support needed for support.
Insurance
614.96 - Fraternal benefit society benefits.
632.42 - Life insurance proceeds if policy prohibits use to pay creditors.
815.18 - Unmatured life insurance contracts up to $4,000 in value in accrued dividends, interest or loan value (except for credit life contracts) if owned by debtor and insuring debtor, dependent, or person debtor is dependent upon; federal disability benefits; life insurance proceeds if debtor was dependent upon insured, to extent necessary to support debtor or family.
Miscellaneous
178.21 - Business partnership property.
