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Exemptions are those items you would be allowed to keep should your creditor obtain a judgment against you. If you own an item that is worth more than the listed amount, you’ll either have to sell the item or you will have to pay your creditor the difference. Washington makes an important exception for spouses: in a lot of states, you and your spouse can both take an exemption. Not so in Washington, where you cannot double the homestead exemption. Child support obligations are also an exception, and you may lose your exemptions (including homestead and retirement) if you owe child support.

• Homestead: $125,000 including land, mobile homes, and improvements.
• Other personal property used as a homestead: $15,000
• Retirement Funds: creditors cannot touch a penny of any retirement accounts.
• Clothes: Exempt, except for furs and jewelry.
• Furs and jewelry: $1,000
• Photos and Keepsakes: exempt (no dollar limit)
• Books: up to $1,500
• Professional exemption (for example, physician, surgeon, attorney, or clergyman): $5,000 for books, office furniture, equipment and supplies.
• Household Goods: $5,000 per household ($2,700 for an individual)
• Other Personal Property: $2,000 (up to $200 cash)
• Bank accounts: up to $200
• Car: up to $5,000 per household ($2,500 for individual)
• Child Support Received: exempt (you must keep this in a separate bank account to prove it is child support)
• Health Aids: all prescribed health aids
• Personal Injury Awards: up to $16,150(not including pain and suffering or compensation for actual pecuniary loss)
• Farms: supplies and seed to $5,000 in value
• Tools of the trade: up to $5,000
• Tuition Credits: exempt, if they were purchased more than two years beforehand
• Spendthrift Trusts: protected (principal only)

Related posts:

1. Bankruptcy and Judgments: What are the State Exemptions for Colorado?
2. Judgments and Bankruptcy: What are the State Exemptions for Florida?
3. Judgments: What are the State Exemptions for West Virginia?
4. Bankruptcy and Judgments: What are the State Exemptions for Texas?
5. Judgments: What are the State Exemptions for Utah?

This entry was posted on Friday, January 15th, 2010 at 11:23 am and is filed under State Specific Information. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.