What happens to my funeral deposits after bankruptcy in Virginia?
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Most people use the Va. Code Ann. § 34-13 exemption to cover their funeral deposits in Virginia Chapter 7 bankruptcy cases.
Virginia does not allow the use of federal exemptions. You will have to use the state exemption scheme.
Under that scheme, most people use Va. Code Ann. § 34-13 to exempt funeral deposits in Virginia bankruptcy cases.
Va. Code Ann. § 34-13 is a wildcard exemption, meaning it can be used to cover a wide range of assets. For single debtors filing, it has a coverage limit of $5,000. If your assets go over this limit, they may be able to be seized by a trustee.
Here is a list of some statutes available in Virginia that are available for filers.
It is worth taking your time on these exemptions. If you do not cover an asset with an exemption in a Virginia bankruptcy case, it may be seized by a trustee. If you do not feel comfortable with these decisions and want assistance, read more about exemptions or consider using our free bankruptcy help.
When filing Chapter 7 or Chapter 13 bankruptcy you must report your assets. Exemptions are the laws that allow you to protect those assets from being taken by a Trustee. Take your time with this so you avoid losing property.