Kentucky Bankruptcy Exemptions
Homestead
Real or personal property used as a family residence up to $5,000. Sale
proceeds are also exempt. (427.060)
Insurance
Annuity contract proceeds up to $350 per month (304.14-330)
Fraternal benefit society benefits; casualty insurance or cooperative life
benefits (427.110)
Group life insurance proceeds. (304.14-320)
Health or disability benefits. (304.14-310)
Life insurance policy if the beneficiary is a married woman. (304.14-340)
Life insurance proceeds if policy prohibits use to pay creditors.
(304.14-350)
Life insurance cash value or proceeds if the beneficiary is someone other
than the insured. (304.14-300)
Misc.
Alimony or child support needed for support. (427.150)
Business partnership property. (362.270)
Pensions
Tax exempt retirement accounts; Traditional and Roth IRAs up to $1,095,000
per person. (11 U.S.C. § 522)
ERISA - all qualified benefits that were deposited more than 120 days before
filing for bankruptcy. (427.150)
Firefighters (67A.620)
Police officers (427.120)
State employees (61.690)
Teachers (161.700)
Urban county government employees (67A.350)
Personal Property
Burial plot up to $5,000 instead of homestead.
Motor vehicle up to $2,500; health aids; clothing, furniture, jewelry, and
articles of adornment up to $3,000 total. (427.010)
Lost earnings payments needed for support; wrongful death recoveries for
person you depended upon for support; personal injury recoveries up to
$7,500, but not including pain, suffering, or pecuniary loss. (427.150)
Medical expenses paid and reparation benefits received under the motor
vehicle reparation law. (304.39-260)
Prepaid tuition payment fund accounts (164A.707(3))
Public Benefits
Public assistance; aid to blind, aged, disabled. (205.220)
341.470 Unemployment compensation
Crime victims' compensation (427.150)
Unemployment compensation (341.470)
Workers' compensation (342.180)
Tools of Trade
Farmer's tools, equipment, livestock, and poultry up to $3,000. (427.010)
Nonfarmer's tools up to $300; motor vehicle of mechanic, mechanical or
electrical equipment servicer, minister, attorney, physician, surgeon,
dentist, veterinarian, or chiropractor up to $2,500. (427.030)
Library, office equipment, instruments and furnishings of a minister,
attorney, physician, surgeon, dentist, veterinarian, or chiropractor up to
$1,000. (427.040)
Wages
The greater of the following: 30 times the federal minimum hourly wage per
week or minimum of 75% of disposable weekly earnings. Judge may approve more
for low income debtors. (427.010)
Wildcard
Any property up to $1,000 (427.160)