Missouri Bankruptcy Exemptions 2020
Written by Upsolve Team.
Updated April 9, 2020
It's important to understand what the exemptions for Missouri 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 Missouri allow federal exemptions?
Missouri 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.
Missouri 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.
Mo. Rev. Stat. § 104.540; Mo. Rev. Stat. § 104.250; Mo. Rev. Stat. § 104.610
Most people use Mo. Rev. Stat. § 104.540; Mo. Rev. Stat. § 104.250; Mo. Rev. Stat. § 104.610 to cover state employee retirement. highway and transportation employees. special consultants pensions. For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 169.090
Most people use Mo. Rev. Stat. § 169.090 to cover teachers. For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 287.260
Most people use Mo. Rev. Stat. § 287.260 to cover workers' compensation. For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 287.820
Most people use Mo. Rev. Stat. § 287.820 to cover administrative judges, legal advisors. For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 358.250
Most people use Mo. Rev. Stat. § 358.250 to cover property of business partnership. For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 377.090
Most people use Mo. Rev. Stat. § 377.090 to cover life insurance proceeds. For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 456.014
Most people use Mo. Rev. Stat. § 456.014 to cover employee spendthrift trust. For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 513.430 1.(1)
Most people use Mo. Rev. Stat. § 513.430 1.(1) to cover household goods. musical instruments. clothes. non-farm animals. crops.. For single debtors filing, it has a coverage limit of $3,000.
Mo. Rev. Stat. § 513.430 1.(10) (f)
Most people use Mo. Rev. Stat. § 513.430 1.(10) (f) to cover retirement plan. For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 513.430 1.(10)(a)
Most people use Mo. Rev. Stat. § 513.430 1.(10)(a) to cover public assistance, earned income tax credit (not child credit). For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 513.430 1.(10)(b)
Most people use Mo. Rev. Stat. § 513.430 1.(10)(b) to cover veterans' benefits. For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 513.430 1.(10)(c)
Most people use Mo. Rev. Stat. § 513.430 1.(10)(c) to cover social security. unemployment. disability benefit. For single debtors filing, it has a coverage limit of $4,000.
Mo. Rev. Stat. § 513.430 1.(10)(d)
Most people use Mo. Rev. Stat. § 513.430 1.(10)(d) to cover alimony and child support - to $750 per month. For single debtors filing, it has a coverage limit of $750.
Mo. Rev. Stat. § 513.430 1.(11)
Most people use Mo. Rev. Stat. § 513.430 1.(11) to cover wrongful death recoveries. For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 513.430 1.(2)
Most people use Mo. Rev. Stat. § 513.430 1.(2) to cover wedding rings. For single debtors filing, it has a coverage limit of $1,500.
Mo. Rev. Stat. § 513.430 1.(2)
Most people use Mo. Rev. Stat. § 513.430 1.(2) to cover jewelry (other than wedding rings). For single debtors filing, it has a coverage limit of $500.
Mo. Rev. Stat. § 513.430 1.(4)
Most people use Mo. Rev. Stat. § 513.430 1.(4) to cover tools of trade. For single debtors filing, it has a coverage limit of $3,000.
Mo. Rev. Stat. § 513.430 1.(5)
Most people use Mo. Rev. Stat. § 513.430 1.(5) to cover automobiles. For single debtors filing, it has a coverage limit of $3,000. This exemption has a limit to the number of assets it can cover.
Mo. Rev. Stat. § 513.430 1.(6)
Most people use Mo. Rev. Stat. § 513.430 1.(6) to cover motor home (one). For single debtors filing, it has a coverage limit of $3,000. This exemption has a limit to the number of assets it can cover.
Mo. Rev. Stat. § 513.430 1.(7)
Most people use Mo. Rev. Stat. § 513.430 1.(7) to cover unmatured life insurance. For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 513.430 1.(8)
Most people use Mo. Rev. Stat. § 513.430 1.(8) to cover fraternal benefit (unmatured, loan, minus property transfered). For single debtors filing, it has a coverage limit of $150,000.
Mo. Rev. Stat. § 513.430 1.(9)
Most people use Mo. Rev. Stat. § 513.430 1.(9) to cover health aids. For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 513.430. 1.(12)
Most people use Mo. Rev. Stat. § 513.430. 1.(12) to cover firearms & ammunition. For single debtors filing, it has a coverage limit of $1,500.
Mo. Rev. Stat. § 525.030
Most people use Mo. Rev. Stat. § 525.030 to cover wages - 75% or 30 times the federal minimum hourly wage. For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 595.025
Most people use Mo. Rev. Stat. § 595.025 to cover crime victim compensation. For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 70.695
Most people use Mo. Rev. Stat. § 70.695 to cover public employee retirement. For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 86.190; Mo. Rev. Stat. § 86.353; Mo. Rev. Stat. § 86.1430
Most people use Mo. Rev. Stat. § 86.190; Mo. Rev. Stat. § 86.353; Mo. Rev. Stat. § 86.1430 to cover police employee pension. For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 87.090; Mo. Rev. Stat. § 87.365; Mo. Rev. Stat. § 87.485
Most people use Mo. Rev. Stat. § 87.090; Mo. Rev. Stat. § 87.365; Mo. Rev. Stat. § 87.485 to cover firefighter pension. For single debtors filing, it has no coverage limit.
Mo. Rev. Stat. § 513.430 1.(3)
Most people use Mo. Rev. Stat. § 513.430 1.(3) to cover wildcard. For single debtors filing, it has a coverage limit of $600.
Missouri Exemptions F.A.Q.
Bankruptcy exemptions protect the equity in certain property. Property that is exempt cannot be used to pay debts. Therefore, a debtor is permitted to keep all exempt property. If you have more questions about exemptions, check out this article.
For expanded descriptions, go to the exemption page for Missouri. Below are common questions people have about assets and exemptions:
