Homestead Exemption
- Real property you reside in or intend to occupy to $40,000.
- Sales proceeds are exempt for up to two years if you plan to obtain another home.
Insurance Exemptions
- Federal disability insurance
- Fire proceeds for destroyed exempt property
- Fraternal benefit society benefits
- Life insurance proceeds to $5,000 if beneficiary is married woman
- Life insurance proceeds if beneficiary was dependent of insured
- Unmatured life insurance contract
Pensions for certain municipal employees, public employees, military personnel, firefighters & police officers (if city over 100,000 pop.), private and public retirement benefits. Social Service payments, unemployment compensation, worker’s compensation, veteran’s benefits.
Personal Property
- Clothing, household goods & appliances, jewelry, keepsakes, sporting goods, firearms, musical instruments, personal property up to a total of $5,000
- Burial provisions
- Deposit accounts to $1,000
- Personal injury recoveries to $25,000
- Automobile or truck to $1,200
- Tools of trade, including equipment, farm products and tools up to $7,500
- Tenant's lease or stock interest in housing co-op, to homestead amount
