Below is a summary of the most common bankruptcy exemptions in Wyoming . These allow you to protect certain property from being sold to pay creditors. Always confirm local statutes and consult a bankruptcy attorney for precise, updated figures and any special rules.
| Exemption Type | Amount | Statute / Source | Notes |
|---|---|---|---|
| Homestead | Single (Under 65): $100,000 Single (65+): $100,000 Married (Under 65): $200,000 Married (65+): $200,000 | Wy. Stat. Ann. § 1-20-101 | Covers real property or a house trailer used as residence. |
| Motor Vehicle | $5,000 equity | See source text | Value above $5k might be nonexempt unless other exemptions apply. |
| Jewelry | $2,000 | See source text | Jewelry used primarily for personal/family purpose. |
| Tools of the Trade | $4,000 | See source text | Implements, books, or equipment used in your occupation. |
| Personal Property | $4,000 total | See source text | Clothing, appliances, furnishings, etc. up to $4,000 combined. |
| Retirement & Other Common Exemptions | Most retirement accounts fully protected; alimony, disability, Social Security, unemployment, workers’ comp. | Federal & state laws vary | Check whether your 401(k), IRA, pension, or public benefit is covered. |
Note: Some less common exemptions (e.g., illness benefits, firefighter pensions, certain retirement stocks) may exist. Thoroughly review the Wyoming statutes or consult an attorney if you have unique circumstances.
Chapter 7 vs. Chapter 13: In Chapter 7, a trustee can sell nonexempt assets for creditor repayment. In Chapter 13, you keep property but must pay unsecured creditors the nonexempt value over 3-5 years.
If you have not lived in Wyoming for at least 730 days (2 years) before filing, you may need to use another state’s exemptions or federal ones, depending on your past residence. A federal homestead “cap” may apply if you purchased your home within 40 months prior to filing.
Important: Exemptions change periodically. Always check if statutes and amounts are current. Verify with a bankruptcy attorney to confirm that these exemptions still apply.