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Indiana State Bankruptcy Exemptions |
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Indiana State Bankruptcy Exemptions |
| ASSET | EXEMPTION | LAW PROVISION |
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HOMESTEAD also see wild card |
Real or
personal property used as residence to $7,500 (homestead
plus personal property—except health aids can’t exceed
$10,000 , 34-28-1 (c) ) |
34-2-28-1 (a)(1) |
| Property held as tenancy by the entirety may be exempt against debts incurred by only one spouse | 34-2-28-1 (a)(5) | |
| INSURANCE | Fraternal benefit society benefits | 27-11-6-3 |
| Group life insurance policy | 27-1-12-29 | |
| Life insurance policy; proceeds, cash value or avails if beneficiary is insured’s spouse or dependent | 27-1-12-14 | |
| Life insurance proceeds if clause prohibits proceeds to used to pay beneficiary’s creditors | 27-2-5-1 | |
| Mutual life or accident proceeds | 27-8-3-23 | |
| MISCELLANEOUS | Property of business partnership | 23-4-1-25 |
| PENSIONS | Firefighters | 36-8-7-22, 36-8-8-17 |
| Police officers (only benefits building up) | 10-1-2-9, 36-8-8-17 | |
| Public employees | 5-10.3-8-9 | |
| Public or private retirement benefits | 34-2-28-1 (a)(6) | |
| Sheriffs (only benefits building up) | 36-8-10-19 | |
| State teachers | 21-6.1-5-17 | |
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PERSONAL PROPERTY also see wild card |
Health aids | 34-2-28-1 (a)(4) |
| $100 on any intangible personal property, except money owed to you | 34-2-28-1 (a)(3) | |
| PUBLIC BENEFITS | Crime victims’ compensation unless seeking to discharge debt for treatment of injury incurred during the crime | 12-18-6-36 |
| Unemployment compensation | 22-4-33-3 | |
| Workers’ compensation | 22-3-2-17 | |
| TOOLS OF TRADE | National guard uniforms, arms and equipment | 10-2-6-3 |
| WAGES | Minimum 75% of earned but unpaid wages; bankruptcy judge may authorize more for low-income debtors | 24-4.5-5-105 |
| WILD CARD | $4,000 of any real estate or tangible personal property | 34-2-28-1 (a)(2) |
Thursday January 12, 2006