Exemptions:

In general, a debtor may claim exemption of his homestead and certain personal property from attachment and execution of a judgment, or in a bankruptcy proceeding. The Maine statutes permit exemption of a debtor's real and personal property which are used by the debtor and his family as a residence in the aggregate value of $12,500.00, or $25,000.00 if minor dependents are residing with the debtor. If the debtor or a dependent of the debtor is 60 years of age or older, the aggregate exempt value may be $60,000.00. Some of the items of personal property which may be exempt include clothing, household furniture and furnishings, musical instruments, etc., that are held primarily for the personal family or household use of the debtor or his dependent, with a value not to exceed $200.00 in each item, jewelry with an aggregate value not to exceed $750.00, tools of the trade in an aggregate value not to exceed $5,000.00. Other property which may be exempt include health aids, life insurance dividends up to a certain value, disability benefits and pension. (14 M.R.S.A. 4422.)

In a bankruptcy proceeding, a resident of Maine may claim exemption of only those items of property prescribed under the federal Bankruptcy Code (11 U.S.C. 522(b)(2)(A), except that any debtor (60 years or older) who qualifies for a residence exemption under 14 M.R.S.A. 4422(1)(B) may exempt the amount allowed under that provision.

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