Maryland Bankruptcy Exemptions
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UPDATED: Nov 13, 2020
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Federal bankruptcy exemptions available? NO
Maryland has no statutory homestead exemption, but a court has held that a residence owned by a married couple as a tenancy by the entirety is exempt if only one spouse is the debtor.
The references to Maryland statutes are to the Maryland Code of Courts and Judicial Proceedings.
|Maryland Bankruptcy Exemptions|
|Insurance||Health or disability benefits, including settlements and arbitration and court awards: all||Courts and Judicial Proceedings 11-504(b)(2)|
|Medical insurance benefit deductions from wages and medical insurance payments: are included in the exemptions for wages up to $145 per week or 75% of disposable weekly wages, whichever is greater.||Commercial Law 15-601.1(b)|
|Fraternal benefit society benefits: all.||Insurance 8-431; Estates and Trusts 8-115|
|Life insurance/annuity proceeds and avails: all if beneficiary is the child, spouse, or dependent of the insured.||Insurance 16-111(a); Estates and Trusts 8-115|
|Pensions||Federal pension exemptions.|
|State employee pensions: all.||State Personnel and Pensions 21-502|
|Personal Property||Burial plot: all.||Business Regulationv 5-503v|
|Perpetual care trust fund: all||Business Regulation 5-602|
|Recoveries for lost future earnings: all.||Courts and Judicial Proceedings 11-504(b)(2)|
|Health aids: all.||Courts and Judicial Proceedings 11-504(b)(3)|
|Household goods, furniture, appliances, books, pets, and clothing: up to $1,000 total.||Courts and Judicial Proceedings 11-504(b)(4)|
|Prepaid college trust fund: all.||Education 18-1913|
|Public Benefits||Death benefits for Baltimore police: all.||Code of 1957 article 24, 16-103|
|Crime victims’ compensation benefits: all.||Criminal Procedure 11-816(b)|
|Unemployment compensation benefits: all.||Labor and Employment 8-106|
|Workers’ compensation benefits: all.||Labor and Employment 9-732|
|Tools of Your Trade||Tools, instruments, appliances, books, and clothing: up to $5,000.||Courts and Judicial Proceedings 11-504(b)(1)|
|Wages||Wages earned but not yet paid, for Kent, Caroline, and Queen Anne’s of Worchester counties: at least 75% of weekly wage or 30 times the federal minimum hourly wage, whichever is greater.||Commercial Law 15-601.1|
|Wages earned but not yet paid, for the rest of the state: at least 75% of the weekly wage or $145 multiplied by number of weeks wages earned, whichever is greater.||Commercial Law 15-601.1|
|Wildcard||Any property or cash: up to $6,000 if claimed within 30 days of levy or attachment.||Courts and Judicial Proceedings 11-504(b)(5)|
|Any real or personal property: up to $5,000 in addition to wildcard above.||Courts and Judicial Proceedings 11-504(f)|