No Doubling for Vermont Homestead Exemption

The state bankruptcy exemption charts in How to File for Chapter 7 Bankruptcy, The New Bankruptcy, and Chapter 13 Bankruptcy: Keep Your Property and Repay Debts Over Time, incorrectly state that married couples filing a joint bankruptcy in Vermont may double the homestead exemption.

In fact, in Vermont married couples filing a joint bankruptcy petition cannot double the homestead exemption amount if they are living together. This means that if you are married and filing jointly, and share a home, the total amount that you can exempt in your home is $125,000.

However, if you are married and separated, and living in separate homes, then each of you can claim the full homestead exemption in your separate home. (Learn more about the Vermont Homestead Exemption in Bankruptcy.)