Alaska bankruptcy exemptions

Please note that you can use federal supplemental exemption in conjunction with the Alaska bankruptcy exemptions.

ASSET: HOMESTEAD
$54,000 in principal residence, whether single or multiple owners, but subject to certain liens; proceeds also exempt located in Alaska for 6 months.
ASSET: INSURANCE
-Disability benefits
-Fraternal benefit society benefits
-Insurance proceeds for personal injury, to extent wages exempt (bankruptcy judge may authorize a greater amount
-Insurance proceeds for wrongful death, to extent wages are exempt.
-Life insurance annuity or contract loan value to $10,000
-Life insurance proceeds if beneficiary is insured’s spouse or dependent, to extent wages exempt
-Medical, surgical or hospital benefits

ASSET: MISCELOAUS.
-Property of business partnership
-Alimony, to the extent wages are exempt
-Child support payments made by a collection agency
-Liquor licenses
-Permits for limited entry into Alaska Fisheries

ASSET: PENSIONS
-Judicial employees (only benefits building up)
-Teachers (only benefits building up)
-ERISA qualified benefits deposited more than 120 days before filing bankruptcy
- Public employees (only benefits building up)
-Other pensions to extent wages exempt (only payments being received)

ASSET: PERSONAL PROPERTY
-Books, musical instruments, clothing, family portraits, household goods & heirlooms to $3,000 total
-Building materials
-Burial Plot
-Health Aids needed
-Jewelry to $1000
-Motor vehicle to $3,000; vehicle’s market value can’t exceed $20,000
-Personal injury recoveries, to extent wages exempt
-Pets to $1,000
-Proceeds for lost, damaged or destroyed exempt property
-Wrongful death recoveries to extent wages exempt

ASSET: PUBLIC BENEFITS
-Adult assistance to the elderly, blind, disabled
-AFDC
-Alaska longevity bonus
-Crime victims’ compensation
-Federally exempt public benefits paid or due
-General relief assistance
-45% of permanent fund dividends
-Tuition credits under an advance college tuition payment contract
-Unemployment compensation
-Worker’s Compensation

ASSET: TOOLS OF TRADE
-Implements, books & tools of trade to $2,800
ASSET: WAGES
-Weekly net earnings to $350; for sole wage earner in a household, $550; if you don’t receive weekly, monthly or semi-monthly pay, can claim $1400 in cash or liquid assets paid in any month; for sole wage earner in household, $2,200
Please check the official sources because the Alaska bankruptcy exemptions are subject to changes.