This bill amends West Virginia Code §38-10-4, which outlines exemptions from property in bankruptcy proceedings. It introduces provisions allowing a surviving spouse to claim their deceased spouse's exemption for a joint residence, provided that the home remains owned by the surviving spouse. Specifically, if the debtor was a joint owner or tenant in common with a deceased spouse, the exempt value of the debtor's interest in the residence can exceed the standard $35,000 limit, increasing it to a maximum of $70,000 per household.

Additionally, the bill exempts payments made by any governmental entity to subsidize the adoption of a minor child from being included in the property of the estate during bankruptcy proceedings. The amendments also clarify existing exemptions related to various forms of income and property, ensuring that certain benefits and payments remain protected for debtors and their dependents.

Statutes affected:
Introduced Version: 38-10-4
Committee Substitute for the Committee Substitute: 38-10-4
Committee Substitute: 38-10-4
Engrossed Committee Substitute: 38-10-4