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Maryland Bankruptcy ExemptionsHomestead there are no homestead exemptions. However, tenancies by the entirety to unlimited amount as to debts of one spouse [In re Sefren, 41 B.R. 747 (D. Md. 1984)]. Also see the section below on "Personal Property." Personal Property Bus. Reg. 5-503 - Burial plot. Bus. Reg. 5-602 - Perpetual care trust funds. Educ. 18-1913 - Prepaid college trust funds. 11-504 - Clothing, household goods, furnishings, appliances, books, and pets up to $1,000 total; health aids; cash or property up to $6,000 if claimed within 30 days of attachment or levy; lost future earnings recoveries; and any other real or personal property up to $5,000 total. Wages Comm. 15-601.1 - Earned but unpaid wages are exempt as follows: in Caroline, Kent, Queen Anne's, and Worcester counties, the greater of 75% of actual wages or 30 times the federal minimum wage; in all other counties, the greater of 75% or $145 per week. Pensions 11 U.S.C. § 522 - Tax exempt retirement accounts; Traditional and Roth IRAs up to $1,095,000 per person. St.Pers.Pen. 21-502 - State employees 11-504 - ERISA-qualified benefits, including IRAs, Roth IRAs and Keoghs. Public Benefits Labor & Employ. 8-106 - Unemployment compensation. Labor & Employ. 9-732 - Workers' compensation. Code of 1957 art. 24 16-103 - Baltimore police death benefits. Crim. Proc. 11-816 - Crime victims' compensation. Tools of Trade 11-504 - Tools, books, instruments, appliances, and clothing needed for work up to $5,000. Insurance Ins. 8-431 - Fraternal benefit society benefits. Ins. 16-111 - Life insurance or annuity contract proceeds, dividends, interest, loan, cash, or surrender value if beneficiary is a dependent of the insured. Comm. 15-601.1 - Medical benefits deducted from wages as well as medical insurance payments up to $145 per week or 75% of disposable wages. 11-504 - Disability or health benefits. Miscellaneous 11-504 - Child support and alimony to the same extent that wages are exempt. Other - Add any applicable Federal Nonbankruptcy Exemptions HOME BANKRUPTCY STEPS FREE CONSULTATION EMERGENCY FILING
This website contains information related to law and is NOT LEGAL advice. It contents is for information only. If you need legal advice, please consult an attorney or act as your own. All documents typed are prepared by Rica Gilmore.
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