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Minnesota Bankruptcy Exemptions
What Exemptions are allowed when filing bankruptcy in Minnesota?
Below is a list of some of the available Minnesota bankruptcy exemptions. This list only identifies a small fraction of the exemptions available in Minnesota and there are many exemptions (such as retirement accounts, life insurance, and trade tools) that are not listed and may be beneficial to you. Talk to a qualified Minnesota bankruptcy attorney in your area to have all the available exemptions explained to you. Only a Minnesota bankruptcy attorney can properly list and explain all of the applicable exemptions offered in Minnesota.
Minnesota Bankruptcy Exemptions
Homestead ($500,000 if agricultural) |
$200,000 |
Household furniture |
$8,550 |
Life insurance, un-matured |
$7,600 |
Farm machines and implements |
$13,000 |
Tools of Trade |
$9,500 |
Motor vehicle (if modified for the Disabled, 38,000) |
$3,800 |
Employee benefits |
$57,000 |
Retirement plans |
$57,000 |
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