Question 1

What is Wisconsin's law on homestead exemption?

Accepted Answer

The homestead exemption is $75,000 for individuals and $150,000 for married couples filing jointly. Applies to the debtor's principal residence. (Wis. Stat. § 815.20)

Question 2

What is Wisconsin's law on personal property / consumer goods?

Accepted Answer

Consumer goods and personal property: $12,000 (individual) or $24,000 (married joint). Motor vehicle: $4,000. (Wis. Stat. § 815.18(3)(d))

Question 3

What is Wisconsin's law on federal exemptions available?

Accepted Answer

Wisconsin allows debtors to choose between state and federal bankruptcy exemptions (cannot mix). The federal homestead (~$27,900) is lower, but the federal wildcard (~$1,475 + up to ~$13,950 unused homestead) may be advantageous for debtors without significant home equity. (Wis. Stat. § 815.18 (no opt-out))

Question 4

What is Wisconsin's law on retirement account exemptions?

Accepted Answer

Employer-sponsored plans (401(k), 403(b), pensions) are fully exempt with no cap. Traditional and Roth IRAs: up to $1,512,350 (adjusted periodically). (Wis. Stat. § 815.18(3)(j))

Question 5

What is Wisconsin's law on community property implications?

Accepted Answer

Because Wisconsin is a community property state, when one spouse files bankruptcy, all marital property may enter the bankruptcy estate — including the non-filing spouse's interest. Pre-filing planning is essential for married couples. Joint tenancy property may be treated differently. (Wis. Stat. § 766.31(3); 11 U.S.C. § 541(a)(2)(A))

Question 6

What is Wisconsin's law on wage exemption?

Accepted Answer

75% of weekly net income or 30 times the minimum hourly wage — whichever protects more. Follows the same formula as federal garnishment limits. (Wis. Stat. §§ 815.18(3)(h), 812.34)

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