What are the Missouri Exemptions?

A: Exemptions are the things that are protected by law. There are Missouri Laws that protect certain items from being taken by creditors and the same protections extend to bankruptcy.

 

ASSET EXEMPTION DESCRIPTION LAW SECTION
Homestead Real property to $8000 or mobile home to $1000 (joint owners may not double)

Property held as tenancy for the entirety may be exempt against debts owed by only one spouse

513.430(6), 513.475

In re Anderson, 12 B.R. 483

(W.D. Mo. 1981)

Insurance Assessment or insurance premium proceeds

Disability or illness benefits

Fraternal benefit society benefits to $5000, bought over 6 months before filing

Life insurance dividends, loan value or interest to $5000, bought over 6 months before filing

Life insurance proceeds if policy owned by woman & insures her husband

Life insurance proceeds if policy owned by unmarried woman and insures her father or brother

Stipulated insurance premiums

Unmatured life insurance policy

377.090

513.430(10)(c)

513.430(8)

513.430(8)

376.530

376.550

377.330

513.430(7)

Miscellaneous Alimony, child support to $500 per month

Property of business partnership

513.430(10(d)

358.250

Pensions Employees of cities with 100,000 or more people

ERISA-qualified benefits needed for support (only payments being received)

Firefighters

Highway & transportation employees

Police Department employees

State employees

Teachers

71.207

513.430(10)(e)

87.090, 87.365, 87.485

104.250

86.190, 86.353, 86.493, 86.780

104.540

169.090

Personal Property Appliances, household goods, furnishings, clothing, books, crops, animals & musical instruments to $1,000

Burial grounds to 1 acre or $100

Health aids

Jewelry to $500

Motor vehicle to $1000

Personal injury causes of action

Wrongful death recoveries for person debtor depended on

513.430(1)

214.190

513.430(9)

513.430(2)

513.430(5)

In re Mitchell, 73 B.R. 93

(E.D. Mo. 1987)

513.430(11)

Public benefits AFDC

Social security

Unemployment compensation

Veterans� benefits

Workers� compensation

513.430(10(a)

513.430(10)(a)

288.380(10(l), 53.430(10)(c)

513.430(10(b)

287.260

Tools of Trade Implements, books & tools of trade to $2000 513.430(4)
Wages Minimum 75% of earned but unpaid wages (90% for head of family); bankruptcy judge may authorize more for low-income debtors

Wages of servant or common laborer to $90

525.030

513.470

WILD CARD $1250 of any property if head of family, else $400; head of family may claim an additional $250 per child 513.430(3), 513.440