§ 2740. Goods and chattels; exemptions from
The goods or chattels of a debtor may be taken and sold on execution, except the following
articles, which shall be exempt from attachment and execution, unless turned out to
the officer to be taken on the attachment or execution, by the debtor:
(1) the debtor’s interest, not to exceed $2,500.00 in aggregate value, in a motor vehicle
or motor vehicles;
(2) the debtor’s interest, not to exceed $5,000.00 in aggregate value, in professional
or trade books or tools of the profession or trade of the debtor or a dependent of
the debtor;
(3) a wedding ring;
(4) the debtor’s interest, not to exceed $500.00 in aggregate value, in other jewelry
held primarily for the personal, family, or household use of the debtor or a dependent
of the debtor;
(5) the debtor’s interest, not to exceed $2,500.00 in aggregate value, in household furnishings,
goods or appliances, books, wearing apparel, animals, crops, or musical instruments
that are held primarily for the personal, family, or household use of the debtor or
a dependent of the debtor;
(6) growing crops, not to exceed $5,000.00 in aggregate value;
(7) the debtor’s aggregate interest in any property, not to exceed $400.00 in value,
plus up to $7,000.00 of any unused amount of the exemptions provided under subdivisions
(1), (2), (4), (5) and (6) of this section;
(8) one cooking stove, appliances needed for heating, one refrigerator, one freezer, one
water heater, sewing machines;
(9) ten cords of firewood, five tons of coals, or 500 gallons of oil;
(10) 500 gallons of bottled gas;
(11) one cow, two goats, 10 sheep, 10 chickens, and feed sufficient to keep the cow, goats,
sheep, or chickens through one winter;
(12) three swarms of bees and their hives with their produce in honey;
(13) one yoke of oxen or steers or two horses kept and used for team work;
(14) two harnesses, two halters, two chains, one plow, and one ox yoke;
(15) the debtor’s interest, not to exceed $700.00 in value, in bank deposits or deposit
accounts of the debtor;
(16) the debtor’s interest in self-directed retirement accounts of the debtor, including
all pensions, all proceeds of and payments under annuity policies or plans, all individual
retirement accounts, all Keogh plans, all simplified employee pension plans, and all
other plans qualified under sections 401, 403, 408, 408A or 457 of the Internal Revenue Code. However, an individual retirement account, Keogh plan, simplified employee pension
plan, or other qualified plan, except a Roth IRA, is only exempt to the extent that
contributions thereto were deductible or excludable from federal income taxation at
the time of contribution, plus interest, dividends, or other earnings that have accrued
on those contributions, plus any growth in value of the assets held in the plan or
account and acquired with those contributions. A Roth IRA is exempt to the extent
that contributions thereto did not exceed the contribution limits set forth in section 408A of the Internal Revenue Code, plus interest, dividends, or other earnings on the Roth IRA from such contributions,
plus any growth in value of the assets held in the Roth IRA acquired with those contributions.
No contribution to a self-directed plan or account shall be exempt if made less than
one calendar year from the date of filing for bankruptcy, whether voluntarily or involuntarily.
Exemptions under this subdivision shall not exceed $5,000.00 for the purpose of attachment
of assets by the office of child support pursuant to 15 V.S.A. § 799;
(17) professionally prescribed health aids for the debtor or a dependent of the debtor;
(18) any unmatured life insurance contract owned by the debtor, other than a credit life
insurance contract;
(19) property traceable to or the debtor’s right to receive, to the extent reasonably necessary
for the support of the debtor and any dependents of the debtor:
(A) Social Security benefits;
(B) veteran’s benefits;
(C) disability or illness benefits;
(D) alimony, support, or separate maintenance;
(E) compensation awarded under a crime victim’s reparation law;
(F) compensation for personal bodily injury, pain and suffering, or actual pecuniary loss
of the debtor or an individual on whom the debtor is dependent;
(G) compensation for the wrongful death of an individual on whom the debtor was dependent;
(H) payment under a life insurance contract that insured the life of an individual on
whom the debtor was dependent on the date of that individual’s death;
(I) compensation for loss of future earnings of the debtor or an individual on whom the
debtor was or is dependent;
(J) payments under a pension, annuity, profit-sharing, stock bonus, or similar plan or
contract on account of death, disability, illness, or retirement from or termination
of employment. (Amended 1987, No. 233 (Adj. Sess.); 1999, No. 12, § 1; 2001, No. 13, § 1.)