Montana Bankruptcy Exemptions
Homestead
70-32-105 & 70-32-104 & 70-32-201 - Real property or mobile home up to
$100,000. Must occupy at time of filing for bankruptcy, and must record a
homestead declaration before filing. Insurance, condemnation or sale
proceeds for 18 months.
Personal Property
25-13-608 - Health aids; burial plot.
25-13-609 - Motor vehicle up to $2,500; clothing, household goods and
furnishings, appliances, jewelry, books, animals and feed, musical
instruments, firearms, sporting goods, and crops up to $600 per item and
$4,500 total.
25-13-610 - Proceeds for damaged or lost exempt property for 6 months after
receipt.
35-15-404 - Cooperative association shares up to $500 value.
Wages
25-13-614 - The greater of the following: 30 times the federal minimum
hourly wage or a minimum of 75% of earned but unpaid wages. Judge may
approve more for low income debtor.
Pensions
11 U.S.C. § 522 - Tax exempt retirement accounts; Traditional and Roth IRAs
up to $1,095,000 per person.
19-2-1004 - Public employees.
19-19-504 & 19-18-612 - Police officers and firefighters.
19-20-706 - Teachers.
19-21-212 - University system employees.
25-13-608 - Roth IRA and IRA contributions and earnings that were made
before the judgement is filed.
31-2-106 - ERISA-qualified benefits in excess of 15% of annual income, if
deposited at least 1 year before filing.
Public Benefits
25-13-608 - Social Security, veterans', & local public assistance benefits.
39-71-743 - Workers' compensation.
39-73-110 - Silicosis benefits.
39-51-3105 - Unemployment compensation.
53-2-607 - Aid to aged and disabled, vocational rehabilitation to the blind,
subsidized adoption payments.
53-9-129 - Crime victims' compensation.
Tools of Trade
25-13-609 - Tools, books, and instruments of trade up to $3,000.
25-13-613 - Arms, uniforms, and accoutrements needed to carry out government
functions.
Alimony and Child Support
25-13-608 - Alimony and child support.
Insurance
25-13-608 & 33-15-513 - Disability or illness proceeds, benefits, dividends,
interest, loan, cash, or surrender value, and medical or hospital benefits.
25-13-609 - Unmatured life insurance contracts up to $4,000.
33-7-522 - Fraternal benefit society benefits.
33-15-512 - Group life insurance policy or proceeds.
33-15-514 - Annuity contract proceeds up to $350 per month.
33-20-120 - Life insurance proceeds if policy prohibits use to pay
creditors.
80-2-245 - Hail insurance benefits.