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Bankruptcy Exemptions
Homestead Exemption
- Real property to $3,500 not over 1 lot in town or 40 acres elsewhere.
Insurance Exemption
- Life insurance or annuity proceeds if clause says proceeds may not be used to pay creditors
- Fraternal benefit society benefits
- Disability, mutual life or health benefits
- Pensions for state employees, firefighters, probate judges, legislators, public school employees, and ERISA-qualified benefits.
- Aid for the blind, aged or disabled, veteran’s benefits and AFDC.
- Unemployment compensation.
- Worker’s compensation.
- Veteran’s benefits
Personal Property
- Furnishings and household goods to $1,000
- Clothing and family pictures
- Burial plots, church pew or seats
- Food and fuel for six months
- 2 cows, 5 pigs, 5 roosters, 100 hens, hay & grain for six months.
- Tools of trade, including materials, implements, stock, motor vehicle, horse and harness to $1,000
- Arms, uniforms and other needs for armed forces
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