Maryland Bankruptcy Exemptions
Table of Contents
Insurance Lawyer
Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...
Jeffrey Johnson
Insurance Lawyer
Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...
Jeffrey Johnson
Updated January 2025
Federal bankruptcy exemptions available? NO
Maryland has no statutory homestead exemption, but a court has held that a residence owned by a married couple as a tenancy by the entirety is exempt if only one spouse is the debtor.
The references to Maryland statutes are to the Maryland Code of Courts and Judicial Proceedings.
Resources:
United States Bankruptcy Court, District of Maryland
| Maryland Bankruptcy Exemptions | ||
|---|---|---|
| Assets | Exemption | State Statute |
| Homestead | No exemption | |
| Insurance | Health or disability benefits, including settlements and arbitration and court awards: all | Courts and Judicial Proceedings 11-504(b)(2) |
| Medical insurance benefit deductions from wages and medical insurance payments: are included in the exemptions for wages up to $145 per week or 75% of disposable weekly wages, whichever is greater. | Commercial Law 15-601.1(b) | |
| Fraternal benefit society benefits: all. | Insurance 8-431; Estates and Trusts 8-115 | |
| Life insurance/annuity proceeds and avails: all if beneficiary is the child, spouse, or dependent of the insured. | Insurance 16-111(a); Estates and Trusts 8-115 | |
| Pensions | Federal pension exemptions. | |
| State employee pensions: all. | State Personnel and Pensions 21-502 | |
| Personal Property | Burial plot: all. | Business Regulationv 5-503v |
| Perpetual care trust fund: all | Business Regulation 5-602 | |
| Recoveries for lost future earnings: all. | Courts and Judicial Proceedings 11-504(b)(2) | |
| Health aids: all. | Courts and Judicial Proceedings 11-504(b)(3) | |
| Household goods, furniture, appliances, books, pets, and clothing: up to $1,000 total. | Courts and Judicial Proceedings 11-504(b)(4) | |
| Prepaid college trust fund: all. | Education 18-1913 | |
| Public Benefits | Death benefits for Baltimore police: all. | Code of 1957 article 24, 16-103 |
| Crime victims’ compensation benefits: all. | Criminal Procedure 11-816(b) | |
| Unemployment compensation benefits: all. | Labor and Employment 8-106 | |
| Workers’ compensation benefits: all. | Labor and Employment 9-732 | |
| Tools of Your Trade | Tools, instruments, appliances, books, and clothing: up to $5,000. | Courts and Judicial Proceedings 11-504(b)(1) |
| Wages | Wages earned but not yet paid, for Kent, Caroline, and Queen Anne’s of Worchester counties: at least 75% of weekly wage or 30 times the federal minimum hourly wage, whichever is greater. | Commercial Law 15-601.1 |
| Wages earned but not yet paid, for the rest of the state: at least 75% of the weekly wage or $145 multiplied by number of weeks wages earned, whichever is greater. | Commercial Law 15-601.1 | |
| Wildcard | Any property or cash: up to $6,000 if claimed within 30 days of levy or attachment. | Courts and Judicial Proceedings 11-504(b)(5) |
| Any real or personal property: up to $5,000 in addition to wildcard above. | Courts and Judicial Proceedings 11-504(f) | |
Related Articles
Get free insurance quotes or connect with legal experts in minutes
Insurance rates change constantly — we help you stay ahead by making it easy to compare top options and save.
