Indiana Bankruptcy Exemptions
Indiana Bankruptcy Exemptions
- Homestead Exemptions
- Insurance Exemptions
- Pension Exemptions
- Public Benefit Exemptions
- Wage Exemptions
- "Wild Card" exemptions
- Miscellaneous Exemptions
| Description: | Indiana Code |
| Home | |
| Real or personal property used as residence up to an amount of $15,000 | 34-55-10-2(b)(1), 34-55-10-2(c) |
| Property held as tenancy may be exempt against debts incurred by only one spouse | 34-55-10-2(b)(5) |
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| 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 |
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| Pensions: | |
| Certain Firefighter pensions are exempt | 36-8-7-22, 36-8-8-17 |
| Certain Police pensions | 36-8-8-17 |
| Public employee pensions | 5-10.3-8-9 |
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| Public Benefits | |
| Unemployment compensation | 22-4-33-3 |
| Workers' compensation | 22-3-2-17 |
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| Wages | |
| A minimum of 75% of earned but unpaid wages. However, a bankruptcy judge may allow a higher percentage for low-income debtors | 24-4.5-5-105 |
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| A "Wild Card" | |
| $8,000 of any real estate or tangible personal property | 34-55-10-2(b)(2) |
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| Miscellaneous | |
| The property of a business partnership applies here | 23-4-1-25 |
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Please note that this is not an exhaustive list. If any of this is confusing or you'd feel better talking to someone, give the law offices of B. Joseph Davis a call toll free at 1-800-204-0599 or contact us online.