In Wisconsin , you have the unique choice between using the state exemption set or the federal bankruptcy exemptions . Many filers compare both to see which scheme better protects their assets. Below, we list some notable exemptions from each system. Always confirm amounts and doubling rules with a local bankruptcy attorney .
Below are some highlights of the Wisconsin exemption system:
| Exemption Type | Single Filer Amount | Married (Joint) Amount | Notes |
|---|---|---|---|
| Homestead | $75,000 | $150,000 | Protects equity in your home (house, condo, etc.). |
| Motor Vehicle | $4,000 | $8,000 | Equity in one or more vehicles up to these totals. |
| "Consumer Goods" Exemption | $12,000 | $24,000 | Can apply to various property, including vehicle(s). |
| Bank Accounts | $5,000 | $10,000 | Checking and savings balances up to these amounts. |
| Personal Injury Award | $50,000 | $50,000 each spouse | Up to $50k protected from claims for each spouse if married and filing together. |
| Retirement Accounts | Fully protected in most cases | Most tax-exempt or qualified retirement plans are covered. | |
Note: The amounts above are not the entire Wisconsin exemption list—just some major ones. Confirm others with a local attorney or the Wisconsin statutes.
If you choose the federal exemptions (11 U.S.C. § 522(d)) instead, below are some approximate 2022–2025 figures (they adjust every 3 years). Check for updated amounts.
| Exemption Type | Single Filer Amount | Married (Joint) Amount | Notes |
|---|---|---|---|
| Homestead | $22,975 | $45,950 | Protects real estate or mobile home used as residence. |
| Motor Vehicle | $3,675 | $7,350 (potentially for 2 vehicles) | Each spouse may apply their share if vehicles are co-owned. |
| Wildcard | $1,225 plus up to $11,500 unused homestead | $2,450 plus up to $23,000 unused homestead | Can be used on any property. Check updated numbers for current cycle. |
| Household Goods | $12,250 total | $24,500 total | Clothing, furniture, appliances, etc. |
| Jewelry | $1,550 | $3,100 | Personal jewelry up to these amounts. |
| Personal Injury Award | $22,975 | $22,975 each spouse | Not including pain & suffering or pecuniary loss. |
| Retirement Accounts | Fully protected if tax-exempt (plus IRA / Roth IRA up to about $1,512,350) | 401(k), 403(b), etc. are usually 100% exempt. IRAs up to the federal cap. | |
Chapter 7 vs. Chapter 13: In Chapter 7, the trustee might sell nonexempt assets to pay creditors, while in Chapter 13, you keep your property but repay creditors at least the nonexempt value over 3-5 years.
You must have lived in Wisconsin for 730 days (2 years) before filing to use its state exemptions. Otherwise, your prior state’s laws may apply. If you choose the federal exemptions, you’d still need to meet certain residency rules. A “homestead cap” can limit your recently purchased home’s exemption if owned less than 40 months.
Important: Exemptions change periodically. Always check if statutes and amounts are current. Verify with a bankruptcy attorney to confirm that these exemptions still apply.