South Dakota Bankruptcy Exemptions
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Written by
Jeffrey Johnson
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UPDATED: Nov 16, 2020
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| Assets | Exemption | State Statutes |
|---|---|---|
| Homestead | May file homestead declaration. | S.D. Codified Laws Ann. § 43-31-6 |
| Real property to unlimited value or mobile home (larger than 240 sq. ft. at its base and registered in state at least 6 months before filing) to unlimited value; property cannot exceed 1 acre in town or 160 acres elsewhere; sale proceeds to $30,000 ($170,000 if over age 70 or widow or widower who hasn’t remarried) exempt for 1 year after sale (husband & wife may not double). | S.D. Codified Laws Ann. § 43-31-1 S.D. Codified Laws Ann. § 43-31-2 S.D. Codified Laws Ann. § 43-31-3 S.D. Codified Laws Ann. § 43-31-4 |
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| Spouse or child of deceased owner may claim homestead exemption. | S.D. Codified Laws Ann. § 43-31-13 | |
| (Gold or silver mine, mill, or smelter not exempt) | S.D. Codified Laws Ann. § 43-31-5 | |
| Insurance | Annuity contract proceeds to $250 per month. | S.D. Codified Laws Ann. § 58-12-6 S.D. Codified Laws Ann. § 58-12-8 |
| Endowment, life insurance, policy proceeds to $20,000; if policy issued by mutual aid or benevolent society, cash value to $20,000. | S.D. Codified Laws Ann. § 58-12-4 | |
| Fraternal benefit society benefits. | S.D. Codified Laws Ann. § 58-37A-18 | |
| Life insurance proceeds to $10,000, if beneficiary is surviving spouse or child. | S.D. Codified Laws Ann. § 43-45-6 | |
| Health benefits to $20,000. | S.D. Codified Laws Ann. § 58-12-4 | |
| Life insurance proceeds, if clause prohibits proceeds from being used to pay beneficiary’s creditors. | S.D. Codified Laws Ann. § 58-15-70 | |
| Pensions & Retirement Savings | City employees. | S.D. Codified Laws Ann. § 9-16-47 |
| IRAs, Roth IRAs & ERISA-qualified benefits, limited to income & distribution to $1,000,000. | S.D. Codified Laws Ann. § 43-45-16 S.D. Codified Laws Ann. § 43-45-17 |
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| Public employees. | S.D. Codified Laws Ann. § 3-12-115 | |
| Personal Property | Bible, schoolbooks; other books to $200. | S.D. Codified Laws Ann. § 43-45-2 (4) |
| Burial plots, church pew. | S.D. Codified Laws Ann. § 43-45-2 (2),(3) | |
| Cemetery association property. | S.D. Codified Laws Ann. § 47-29-25 | |
| Clothing. | S.D. Codified Laws Ann. § 43-45-2 (5) | |
| Family pictures. | S.D. Codified Laws Ann. § 43-45-2 (1) | |
| Food & fuel to last 1 year. | S.D. Codified Laws Ann. § 43-45-2 (6) | |
| Public Benefit | Crime victims’ compensation. | S.D. Codified Laws Ann. § 23A-28B-24 |
| Public assistance. | S.D. Codified Laws Ann. § 28-7A-18 | |
| Unemployment compensation. | S.D. Codified Laws Ann. § 61-6-28 | |
| Workers’ compensation. | S.D. Codified Laws Ann. § 62-4-42 | |
| Wages | Earned wages owed 60 days before filing bankruptcy, needed for support of family. | S.D. Codified Laws Ann. § 15-20-12 |
| Wages of prisoners in work programs. | S.D. Codified Laws Ann. § 24-8-10 | |
| Wildcard | Head of family may claim $7,000, or non-head of family may claim $5,000 of any personal property. | S.D. Codified Laws Ann. § 43-45-4 |
Resources:
South Dakota Bankruptcy Attorneys