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Nebraska State Bankruptcy Exemptions |
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Nebraska State Bankruptcy Exemptions |
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FEDERAL
BANKRUPTCY EXEMPTIONS NOT AVAILABLE. All law references are to Revised Statutes of Nebraska. |
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| ASSET | EXEMPTION | LAW PROVISION |
| Homestead |
$12,500;
cannot exceed 2 lots in city or village, 160 acres
elsewhere; sale proceeds exempt 6 months after sale May record homestead declaration |
40-101,
40-111, 40-113 40-105 |
| Insurance |
Fraternal benefit society benefits to $10,000 loan value Life insurance or annuity contract proceeds to $10,000 loan value |
44-1089 44-371 |
| Miscellaneous | Property of business partnership | 67-325 |
| Pensions |
County
employees ERISA-qualified benefits needed for support Military disability benefits to $2000 School employees State employees |
23-2322 25-1563.01 25-1559 79-1060, 79-1552 84-1324 |
| Personal Property |
Burial
plot Clothing needed Crypts, lots, tombs, niches, vaults Food and fuel to last 6 months Furniture & kitchen utensils to $1500 Perpetual care funds Personal injury recoveries Personal possessions |
12-517 25-1556 12-605 25-1556 25-1556 12-511 25-1563.02 25-1556 |
| Public Benefits |
Aid to
disabled, blind, aged, AFDC Unemployment compensation Workers’ compensation |
68-1013 48-647 48-149 |
| Tools of Trade |
Equipment or tools to $1500 Husband and wife may double |
25-1556 In re Keller, 5 0 B.R. 23 (D.Neb. 1985) |
| Wages | Minimum 85% of earned but unpaid wages or pension payments for head of family; 75% for all others; bankruptcy judge may authorize more for low-income debtors | 25-1558 |
| Wild Card | $2500 of any personal property, except wages, in lieu of homestead | 25-1552 |
Thursday January 12, 2006