Wedding Ring Exemptions Vary Widely

Wedding rings often receive special protection in American bankruptcy cases, but they are not automatically untouchable in every state. Exemption rules depend on state law or the federal system, and some states limit how much value a debtor may protect. Maine, for example, protects up to $4,000 in wedding and engagement rings, while Virginia lists them without a monetary limit and Minnesota provides no specific ring exemption. If a ring has enough nonexempt value, a bankruptcy trustee may sell it and return only the protected amount to the debtor.

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