Delaware Bankruptcy Exemptions 2020
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Written by Upsolve Team.
Updated November 27, 2020
It's important to understand what the exemptions for Delaware are and how they're most often used in a bankruptcy case.
How Do Exemptions Work?
When you file for Chapter 7 bankruptcy, one of the biggest questions is whether or not you will be able to keep your property.
That depends on which property exemptions you can use on your bankruptcy forms. They are called exemptions because they “exempt” -- or “excuse” -- certain property from being taken. In most cases, exemptions protect most day-to-day items that you own, unless you have expensive property like a house or a car.
Certain exemptions protect entire categories of property like retirements accounts, regardless of value. Other exemptions only protect specific property like a vehicle up to a certain value.
If you're looking for a deep understanding of bankruptcy exemptions, read this article.
Does Delaware allow federal exemptions?
Delaware does not recognize the federal exemptions.
Every state has its own set of property exemptions. And some states also allow you choose between their exemptions and a set of federal bankruptcy exemptions. When they do, they will generally let you to choose the system that is the best fit for you. Although some states allow you to use the federal bankruptcy exemptions, others do not.
Delaware Exemptions
11 U.S.C. § 522(b)(3)(C)
Most people use 11 U.S.C. § 522(b)(3)(C) to cover tax exempt retirement accounts. For single debtors filing, it has no coverage limit.
5 U.S.C. §§ 8437(e)(g), 11 U.S.C. § 541(c)(2)
Most people use 5 U.S.C. §§ 8437(e)(g), 11 U.S.C. § 541(c)(2) to cover thrift savings plan. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 10, § 4902 (a)
Most people use Del. Code Ann. tit. 10, § 4902 (a) to cover books, antiques, art, collectibles, wearing apparel, jewelry. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 10, § 4902 (d)
Most people use Del. Code Ann. tit. 10, § 4902 (d) to cover pianos and organs (leased to debtor). For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 10, § 4916
Most people use Del. Code Ann. tit. 10, § 4916 to cover college investment account. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 11, § 8803
Most people use Del. Code Ann. tit. 11, § 8803 to cover police pensions. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 9, § 4316
Most people use Del. Code Ann. tit. 9, § 4316 to cover kent county employees pensions. For single debtors filing, it has a coverage limit of $300. This exemption has a limit to the number of assets it can cover.
In re Yuhas, 104 F.3d 612 (3rd Cir. 1997); Del. Code Ann. tit. 10, § 4915
Most people use In re Yuhas, 104 F.3d 612 (3rd Cir. 1997); Del. Code Ann. tit. 10, § 4915 to cover ira & roth ira, other retirement plans. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 29, § 5503
Most people use Del. Code Ann. tit. 29, § 5503 to cover state employees. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 16, § 6653
Most people use Del. Code Ann. tit. 16, § 6653 to cover firefighters pension. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 10, § 4915 (a)
Most people use Del. Code Ann. tit. 10, § 4915 (a) to cover annuity contracts - to to $350 per month. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 12, § 3536
Most people use Del. Code Ann. tit. 12, § 3536 to cover principal and income of spendthrift trusts. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 11, § 9011
Most people use Del. Code Ann. tit. 11, § 9011 to cover crime victims' compensation. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 31, § 513
Most people use Del. Code Ann. tit. 31, § 513 to cover public assistance. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 31, § 513
Most people use Del. Code Ann. tit. 31, § 513 to cover aid to blind. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 19, § 2355
Most people use Del. Code Ann. tit. 19, § 2355 to cover workers compensation. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 18, § 2726
Most people use Del. Code Ann. tit. 18, § 2726 to cover proceeds from health or disability insurance claim. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 19, § 3374
Most people use Del. Code Ann. tit. 19, § 3374 to cover unemployment compensation. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 31, § 513
Most people use Del. Code Ann. tit. 31, § 513 to cover disability benefits. For single debtors filing, it has a coverage limit of $4,000.
Del. Code Ann. tit. 6, § 4345
Most people use Del. Code Ann. tit. 6, § 4345 to cover retail installment sales - wages exempt for 60 days from defa. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 18, § 6708
Most people use Del. Code Ann. tit. 18, § 6708 to cover firemen's disability benefits. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 18, § 6218
Most people use Del. Code Ann. tit. 18, § 6218 to cover fraternal benefit. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 18, § 2725; Del. Code Ann. tit. 18, § 2729
Most people use Del. Code Ann. tit. 18, § 2725; Del. Code Ann. tit. 18, § 2729 to cover life insurance proceeds. For single debtors filing, it has a coverage limit of $100,000.
Del. Code Ann. tit. 18, § 2727
Most people use Del. Code Ann. tit. 18, § 2727 to cover life insurance (group). For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 10, § 4914 (c)(2)
Most people use Del. Code Ann. tit. 10, § 4914 (c)(2) to cover tools of trade. For single debtors filing, it has a coverage limit of $15,000.
Del. Code Ann. tit. 6, § 15-504(d)
Most people use Del. Code Ann. tit. 6, § 15-504(d) to cover partnership property. For single debtors filing, it has no coverage limit.
Del. Code Ann. tit. 10, § 4914 (b)
Most people use Del. Code Ann. tit. 10, § 4914 (b) to cover wildcard (if joint, each individual cannot exceed $25,000 in value in personal property). For single debtors filing, it has a coverage limit of $25,000.
