Wisconsin homestead exemptions increased effective December 16 | Milwaukee, WI

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Home 9 Chapter 13 Bankruptcy 9 Wisconsin homestead exemptions increased effective December 16

Wisconsin homestead exemptions increased effective December 16

by | Dec 30, 2009 | Chapter 13 Bankruptcy, Chapter 7 Bankruptcy

The amount of equity a Wisconsin homeowner can exempt, or protect, from judgment creditors increased effective December 16, 2009. An individual can now protect $75,000 of equity in their home, or the proceeds from the sale of their home with the intent to purchase another homestead for 2 years. The new exemptions have also eliminated the marriage penalty, allowing a married couple to protect $150,000 in their homestead.

The exemptions for other property exempt from execution have also increased. You should consult an attorney for a thorough review of the Wisconsin exemptions.