South Carolina Bankruptcy Exemptions
UPDATED: Sep 24, 2024
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UPDATED: Sep 24, 2024
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.
UPDATED: Sep 24, 2024
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.
UPDATED: Sep 24, 2024
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.
| Assets | Exemption | State Statutes |
|---|---|---|
| Homestead | Real property, including co-op, to $50,000 (joint owners may double). | S.C. Code Ann. § 15-41-30 (A)(1) |
| Insurance | Accident & disability benefits. | S.C. Code Ann. § 38-63-40 (D) |
| Benefits accruing under life insurance policy after death of insured, where proceeds left with insurance company pursuant to agreement; benefits not exempt from action to recover necessaries if parties agree. | S.C. Code Ann. § 38-63-50 | |
| Life insurance avails from policy for person you depended on to $4,000. | S.C. Code Ann. § 15-41-30 (A)(9) | |
| Life insurance proceeds from policy for person you depended on, needed for support. | S.C. Code Ann. § 15-41-30 (A)(11)(c) | |
| Proceeds & cash surrender value of life insurance payable to beneficiary other than insured’s estate and for the express benefit of insured’s spouse, children, or dependents (must be purchased 2 years before filing to avoid $4,000 cap). | S.C. Code Ann. § 38-63-40 (A) S.C. Code Ann. § 15-41-30 (A)(8) |
|
| Proceeds of life insurance or annuity contract held by insurer, by agreement. | S.C. Code Ann. § 38-63-40 (B) | |
| Unmatured life insurance contract, except credit insurance policy. | S.C. Code Ann. § 15-41-30 (A)(8) | |
| Disability or illness benefits. | S.C. Code Ann. § 15-41-30(A)(11)(c) |
|
| Fraternal benefit society benefits. | S.C. Code Ann. § 38-38-330 | |
| Misc. | Alimony, child support. | S.C. Code Ann. § 15-41-30 (A)(11)(d) |
| Property of business partnership. | S.C. Code Ann. § 33-41-720 | |
| Pensions & Retirement Savings | ERISA-qualified benefits; your share of the pension plan fund. | S.C. Code Ann. § 15-41-30 (A)(11)(e),(14) |
| Firefighters. | S.C. Code Ann. § 9-13-230 | |
| General assembly members. | S.C. Code Ann. § 9-9-180 | |
| IRAs, with numerous limitations. | S.C. Code Ann. § 15-41-30 (A)(13) | |
| Judges, solicitors. | S.C. Code Ann. § 9-8-190 | |
| Police officers. | S.C. Code Ann. § 9-11-270 | |
| Public employees. | S.C. Code Ann. § 9-1-1680 | |
| Personal Property | Animals, crops, appliances, books, clothing, household goods, furnishings, musical instruments to $4,000 total. | S.C. Code Ann. § 15-41-30 (A)(3) |
| Burial plot to $50,000, in lieu of homestead (joint owners may double). | S.C. Code Ann. § 15-41-30 (A)(1) | |
| Cash & other liquid assets to $5,000, in lieu of burial or homestead exemption. | S.C. Code Ann. § 15-41-30 (A)(5) | |
| College investment program trust fund. | S.C. Code Ann. § 59-2-140 | |
| Health aids. | S.C. Code Ann. § 15-41-30 (A)(10) | |
| Jewelry to $1,000. | S.C. Code Ann. § 15-41-30 (A)(4) | |
| Motor vehicle to $5,000. | S.C. Code Ann. § 15-41-30 (A)(2) | |
| Personal injury & wrongful death recoveries for person you depended on for support. | S.C. Code Ann. § 15-41-30 (A)(12)(b) | |
| Public Benefit | Crime victims’ compensation. | S.C. Code Ann. § 15-41-30 (A)(12)(a) S.C. Code Ann. § 16-3-1300 |
| General relief; aid to aged, blind, disabled. | S.C. Code Ann. § 43-5-190 | |
| Local public assistance. | S.C. Code Ann. § 15-41-30 (10)(A) | |
| Social Security. | S.C. Code Ann. § 15-41-30 (A)(11)(a) | |
| Unemployment compensation. | S.C. Code Ann. § 15-41-30 (A)(11)(a) | |
| Veterans’ benefits. | S.C. Code Ann. § 15-41-30 (A)(11)(b) | |
| Workers’ compensation. | S.C. Code Ann. § 42-9-360 | |
| Tools of Your Trade | Implements, books, & tools of trade to $1,500. | S.C. Code Ann. § 15-41-30 (A)(6) |
| Wages | None listed. | |
| Wildcard | Up to $5,000 for any property, from unused exemptions amounts for homestead, burial, motor vehicle, personal property, jewelry or tool of trade exemptions. | S.C. Code Ann. § 15-41-30 (A)(7) |
Resources:
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Mary Martin
Published Legal Expert
Mary Martin has been a legal writer and editor for over 20 years, responsible for ensuring that content is straightforward, correct, and helpful for the consumer. In addition, she worked on writing monthly newsletter columns for media, lawyers, and consumers. Ms. Martin also has experience with internal staff and HR operations. Mary was employed for almost 30 years by the nationwide legal publi...
Published Legal Expert
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.