Alaska Asset Protection Laws

These assets are exempted from a state court or bankruptcy proceeding in Alaska. Alaskan debtors can opt to use either the federal exemptionsor state exemptions, but cannot mix them.

• Homestead. Principal residence up to $72,900, whether single or multiple owners. Alaska recognized tenancies by the entirety, with the right of survivorship.
• Personal Property:
• Books, musical instruments, clothing, family portraits, household goods and heirlooms up to $4,050.
• Building materials
• Burial plot.
• Health aids needed.
• Jewelry up to $1,350.
• Motor vehicle up to $4,050; however, the vehicle's market value can't exceed $27,000.
• Personal injury recoveries, to extent wages exempt.
• Pets up to $1,350.
• Proceeds for lost, damaged or destroyed exempt property.
• Wages. $473 of weekly net earnings or $743 per week for debtor who is sole support for household. $1,890/mo. in "liquid assets" for debtors not paid weekly/semiweekly or monthly or $2,970/mo. for debtor who is sole support of household. Court can increase exemption for disability or personal injury payments.
• Pensions and Retirement Benefits.
• ERISA-qualified retirement plans are exempt by operation of federal law;
• Funds building up are exempt for all teachers', judicial employees' and public employees' retirement plans;
• Other retirement benefits exempt to extent wages are exempt (only payments being received); and
• Roth IRAs and regular IRAs up to $1,250,000 per person. IRA exemptions for conventional, Roth, SEP and SIMPLE plans, subject to 120 day rule, above.
• Insurance:
• Insurance proceeds for wrongful death, to extent wages are exempt.
• Life insurance annuity or contract loan value to $13,500.
• Life insurance proceeds if beneficiary is insured's spouse or dependent, to extent wages exempt.
• Disability benefits.
• Fraternal society benefits.
• Insurance proceeds for personal injury, to extent wages exempt (bankruptcy judge may authorize a greater amount).
• Medical, surgical or hospital benefits.
• Tools of Trade. Implements, tools and professional books up to $3,780.

• Public Benefits.
• Unemployment compensation.
• Workers' Compensation.
• Adult assistance to the elderly, blind, disabled.
• AFDC.
• Alaska longevity bonus.
• Crime victim's compensation.
• Federally exempt public benefits paid or due.
• General relief assistance.
• 45% of permanent fund dividends.
• Tuition credits under an advance college tuition payment contract
• Miscellaneous.
• Business partnership property.
• Alimony, to the extent wages are exempt.
• Child support payments made by a collection agency.
• Permits for limited entry into Alaska Fisheries.
• Certain liquor licenses and limited entry permits
• Wild Card. None.