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Wildcard Exemption

Definition

An exemption that can be used to protect any property that is not otherwise protected.


Learn more about "Wildcard Exemption"


The federal bankruptcy exemptions include a wildcard exemption as do many (but not all) of the states. The wildcard is usually limited by a certain dollar amount and in some cases can be increased if no homestead exemption is claimed.

The following opt-out states provide a wildcard exemption (amounts current as of 10/29/2020):

StateWildcard Exemption Amount
Alabama$7,500
California$30,835
Delaware$25,000
Florida$4,000
Georgia$4,000
Idaho$800
Illinois$4,000
Indiana$10,250
Iowa$1,000
Maine$400
Maryland$11,000
Mississippi$10,000
Missouri$600+ (based on family size)
Nebraska$5,000
Nevada$10,000
North Carolina$5,500
North Dakota$10,000
Ohio$1,325
South Carolina$5,900
South Dakota$5,000
Tennessee$10,000
Virginia$5,000
West Virginia$25,800
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