WISCONSIN

Has state opted out of federal bankruptcy exemptions? No.

Is opt out limited to residents or domiciliaries of the state? Not applicable.

Do state’s exemptions have extraterritorial application?

Homestead: Uncertain.

Personal property: Probably not. Wis. Stat. § 815.18(5) provides: “A resident is entitled to the exemptions provided by this section. A non-resident is entitled to the exemptions provided by the law of the jurisdiction of his or her residence.”

Wages: Wis. Stat. §§ 812.30, 812.34, 812.38, 815.18(3)(h).

Scope: Compensation paid or payable for personal services whether called wages, salary, commission, bonus, or otherwise, including periodic payments under a pension or retirement program. Wis. Stat. §§ 812.30(6), 812.30(7).

Amount: Greater of 80% of disposable earnings or the amount of the federal poverty line adjusted for family size is exempt. Wis. Stat. § 812.34(2). Disposable earnings are those left after legally required deductions. Wis. Stat. § 812.30(6). Garnishment is forbidden if debtor is eligible to receive need-based public assistance or has received it within six months or if the debtor’s household income is below the poverty line. If a 20% garnishment would result in household income below the poverty line, garnishment limited to the amount by which household income exceeds the poverty line. Wis. Stat. § 812.34(2). Debtor may petition for relief, if the exemption is “insufficient to acquire the necessities of life for the debtor and his or her dependents.” Wis. Stat. § 812.38. See also Wis. Stat. § 815.18(3)(h) (exempting 75% of wages or 30 times minimum wage from execution).

Survival after payment/deposit: Not specified in exemption statute.

Waiver: Not specified in exemption statute.

Homestead: Wis. Stat. §§ 815.20, 990.01(13), 990.01(14).

Amount: $75,000 except for mortgages, taxes, and certain mechanics liens. Spouses may stack exemptions. Wis. Stat. § 815.20. This increased amount applies only to executions issued on or after December 16, 2009. Otherwise the prior limits of $40,000, which may not be stacked, will apply. Not less than one quarter acre, nor more than 40 acres, so far as reasonably necessary to use the dwelling as a home, subject to the value limitation. Wis. Stat. §§ 990.01(13), 990.01(14).

Procedural requirements: None stated. Homestead may be set apart at time of levy.

Special provisions: Sale proceeds exempt for two years, if held with intention to purchase another homestead. Wis. Stat. § 815.20.

Waiver: Not specified in exemption statute.

Tangible personal property: Wis. Stat. §§ 425.106, 815.18.

Household goods: $12,000. For executions issued before December 16, 2009, the former limit of $5000 remains in effect. Household goods, wearing apparel, firearms, Bible, library, pew. Wis. Stat. § 815.18(3)(d). For debts that arise from a consumer credit transaction, certain specified household goods are exempt. Wis. Stat. § 425.106.

Motor vehicles: $4000, plus any unused household goods exemption. Wis. Stat. § 815.18(3)(g). For executions issued before December 16, 2009, the former limit of $1200 remains in effect.

Tools of trade: $15,000. A debtor who does not claim this exemption may exempt up to $15,000 in an interest in a closely held business [defined] that employs debtor, or in whose business debtor is actively involved. Wis. Stat. § 815.18(3)(b). For executions issued before December 16, 2009, the former limit of $7500 remains in effect.

Clothing and jewelry: Clothing and jewelry are included in household goods exemption.

Miscellaneous and wildcard: Provisions for burial. Wis. Stat. § 815.18(3)(a).

Waiver: Contractual waiver is void, but exemptions are waived by failure to follow statutory procedure for claiming them. Wis. Stat. § 815.18(6).

Benefits, retirement plans, insurance, judgments, and other intangibles: Wis. Stat. § 815.18. See also Wis. Stat. §§ 45.03(8)(b), 49.96, 108.13, 614.96.

Public benefits: Social Security, certain other public assistance, unemployment, veterans’ benefits. Wis. Stat. § 815.18(3)(ds).

Pensions, retirement plans, and annuities: Certain public and private pensions and retirement plans. Wis. Stat. §§ 815.18(3)(ef), 815.18(3)(j), 815.18(3)(n).

Insurance, judgments, or other compensation for injury: Insurance proceeds for damage to or destruction of exempt property payable to or received by debtor, for two years after date of receipt (Wis. Stat. § 815.18(3)(e)); unmatured life insurance and up to $150,000 in accrued dividends or loan value, lesser amounts if contract issued or funded within twenty-four months before the earlier of the date the exemption was claimed or the date the action was filed that gave rise to the judgment (Wis. Stat. § 815.18(3)(f)), life insurance proceeds or wrongful death judgment for person on whom debtor was dependent, to extent needed for support; up to $50,000 personal injury, including pain and suffering and actual pecuniary loss (Wis. Stat. § 815.18(3)(i)) (for executions issued before December 16, 2009, the former limit of $25,000 remains in effect); compensation for loss of future earnings; crime victim reparations; certain fraternal benefits; certain annuities. Federal disability insurance, Wis. Stat. § 815.18(ds).

Bank accounts: $5000 in bank account, but only to extent account is for personal rather than business use. Wis. Stat. § 815.18(3)(k). Tuition units or college savings account purchased under Wis. Stat. § 224.50. Wis. Stat. §§ 815.18(3)(o), 815.18(3)(p).

Alimony, child support: Child support, family support, or maintenance to extent needed for support. Wis. Stat. § 815.18(3)(c).

Tax refunds: Not specified in exemption statute.

Survival after payment or deposit: Yes, as to property traceable to life insurance proceeds, wrongful death, personal injury, loss of future earnings, or certain retirement plans and military pensions. Property traceable to exempt property is exempt only if so specified in this section. Wis. Stat. § 815.18(4).