Virginia Bankruptcy Exemptions - VA Bankruptcy Exemptions

State Exemptions Only

Homestead -

• an additional $500 in value for each dependent. (VA Code 34-4.);
• Additional property for a disabled veteran, $2,000.

$5,000

Homestead allowance for surviving spouse

$15,000

Wearing Apparel

$1,000

Wedding and engagement rings, family portraits and heirlooms

$5,000

Household furniture

$5,000

Exempt property of decedent

$15,000

Farmer's equipment

$4,000

Motor vehicle

$6,000 ($10,000 if needed for occupation or education)

Court award or settlement proceeds from personal injury or wrongful death actions generally are also exempt. (VA Code 34-28.1.)

 

Tools of trade

$10,000



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NOTE: These are the major bankruptcy exemptions.
Check with your bankruptcy lawyer for a full exemptions list.

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