South Dakota Bankruptcy Exemptions
Get Legal Help Today
Secured with SHA-256 Encryption
UPDATED: Nov 16, 2020
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.
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 |
|
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 |
|
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