Wildcard Exemption
Definition
An exemption that can be used to protect any property that is not otherwise protected.
Learn more about "Wildcard Exemption"
The federal bankruptcy exemptions include a wildcard exemption as do many (but not all) of the states. The wildcard is usually limited by a certain dollar amount and in some cases can be increased if no homestead exemption is claimed.
The following opt-out states provide a wildcard exemption (amounts current as of 10/29/2020):
| State | Wildcard Exemption Amount |
|---|---|
| Alabama | $7,500 |
| California | $30,835 |
| Delaware | $25,000 |
| Florida | $4,000 |
| Georgia | $4,000 |
| Idaho | $800 |
| Illinois | $4,000 |
| Indiana | $10,250 |
| Iowa | $1,000 |
| Maine | $400 |
| Maryland | $11,000 |
| Mississippi | $10,000 |
| Missouri | $600+ (based on family size) |
| Nebraska | $5,000 |
| Nevada | $10,000 |
| North Carolina | $5,500 |
| North Dakota | $10,000 |
| Ohio | $1,325 |
| South Carolina | $5,900 |
| South Dakota | $5,000 |
| Tennessee | $10,000 |
| Virginia | $5,000 |
| West Virginia | $25,800 |
