Alaska is a dual-choice state where you may opt for either state exemptions or federal exemptions—but not both—when filing Chapter 7 or Chapter 13. Below, we highlight commonly used exemptions under both federal and Alaska law, along with relevant statutes and important notes.
Always confirm the latest amounts and details with an attorney or official statute, as laws can change or be interpreted differently by courts.
| Asset / Type of Property | Federal Exemption | Alaska Exemption | Notes |
|---|---|---|---|
| Homestead (Residence) | Up to $500,500 11 U.S.C. § 522(d)(1) | Up to $72,900 AS 09.38.010(a)(1) | (1) Federal homestead can double for joint filers. (1) Alaska homestead is not doubled for married couples (single shared exemption). |
| Household Goods, Furniture, Clothing | Up to $31,575 11 U.S.C. § 522(d)(3) | Up to $4,050 AS 09.38.020(a) | (2) In Alaska, no single item may exceed $800 in value. |
| Jewelry | Up to $16,850 11 U.S.C. § 522(d)(4) | Up to $1,350 AS 09.38.020(b) | |
| Automobile | Up to $5,025 11 U.S.C. § 522(d)(2) | Up to $4,050 AS 09.38.020(e)(3) | (3) Under Alaska law, total vehicle value may not exceed $27,000. |
| Pets | Covered by wildcard in some cases 11 U.S.C. § 522(d)(5) | N/A (see wildcard) | |
| Professional Tools, Books | Up to $2,825 (tools of trade) 11 U.S.C. § 522(d)(6) | Up to $3,175 AS 09.38.020(d) | |
| Personal Injury Award | Up to $31,575 11 U.S.C. § 522(d)(11)(D) | Up to $1,750 if already received AS 09.38.020(c) | Applies to amounts reasonably necessary for support. |
| Life Insurance, Annuity | 11 U.S.C. § 522(d)(8), (11)(B), (C) | Unlimited if certain conditions met AS 09.38.030(b) | (12) Proceeds must be traceable andreasonably necessary for support. |
| Pension, Profit Sharing, IRA | 11 U.S.C. §§ 522(d)(10)(E), 522(n) IRAs up to $1,711,975 | Generally unlimited for ERISA-qualified; see AS 09.38.017(a), etc. | (5), (6) Must be reasonably necessary for support. |
| “Wild Card” Exemption | Up to $1,675 plus unused homestead 11 U.S.C. § 522(d)(5) | N/A (Alaska does not have a separate wildcard, but see certain partial protections) | (7) Max can reach $17,475 if you add unused homestead portion. |
| Alaska Permanent Fund Dividend | N/A | Generally 20% exempt or unlimited, see AS 09.38.065? | The PFD is not considered a “liquid asset” under some sections. |
| Alaska Longevity Bonus | N/A | Generally exempt AS 09.38.015(a)(9) | |
| Liquor License | N/A | No explicit limit AS 09.38.015(a)(5) | |
| Fishing Permits | N/A | Generally unlimited AS 16.43.150(g) | |
| Health Aids | N/A | Unlimited | |
| Social Security, Veterans’ Benefits | 11 U.S.C. § 522(d)(10) & other federal statutes | Generally unlimited AS 09.38.015(a)(6)(8) | (8) Federal law also excludes these from bankruptcy estate. |
| Unemployment, Disability & Welfare | 11 U.S.C. § 522(d)(10) or (11) | Unlimited | |
| Alimony, Child Support | 11 U.S.C. § 522(d)(10)(D) | Unlimited, if reasonably necessary | (9) Must be essential for the support of debtor/dependents. |
| Liquid Assets (cash, notes, etc.) | N/A specifically (federal wildcard may apply) | Up to $1,890 if no current wages AS 09.38.030(b) | (11) Only if debtor has no earnings for that month. |
| Wrongful Death & Life Insurance Proceeds; Loss of Future Earnings | 11 U.S.C. § 522(d)(11)(B), (C), (E) | Unlimited if reasonably necessary | (12) Must be traceable to a dependent’s wrongful death or lost earnings scenario. |
| Crime Victim’s Reparation Award | Unlimited | Unlimited | 11 U.S.C. § 522(d)(11); AS 09.38.015(a)(4) |
| Wages of Fishermen, Seamen & Apprentices, Civil Service Retirement, RRA, Foreign Service | 11 U.S.C. § 522(b)(3); 46 U.S.C. § 11109(a); 5 U.S.C. § 8346(a); etc. | Generally unlimited iffederally protected | (10) These assets are excluded by specific federal statutes. |
This information is for general educational purposes and may not reflect the latest changes or local court interpretations. Always verify amounts and statutes with a qualified attorney or official state resources before filing.