Bankruptcy in Kentucky

$5,000 in real or personal property that you or a dependent use as a permanent home in Kentucky, or in a burial plot

The exemption does not apply to a debt that existed before you bought the property or built the improvements, and it does not stop foreclosure of a mortgage or claims for unpaid purchase money.

Law: KRS 427.060

$31,575

Law: 11 U.S.C. 522(d)(1)

$2,500 in one motor vehicle and its accessories. Ministers, attorneys, physicians, surgeons, chiropractors, veterinarians and dentists may exempt one more vehicle up to $2,500. Mechanics and other skilled repair workers have their own $2,500 vehicle exemption.

Law: KRS 427.040; KRS 427.030; KRS 427.010(1)

$5,025

Law: 11 U.S.C. 522(d)(2)

$3,000 total for household furnishings, jewelry, personal clothing and ornaments. Professionally prescribed health aids and health savings account funds are fully exempt.

Law: KRS 427.010(1)

Household goods: $800 per item, $16,850 total

Jewelry for personal or family use: $2,125

Law: 11 U.S.C. 522(d)(3); 11 U.S.C. 522(d)(4)

$1,000 in any property, real or personal, for bankruptcy filers who use the Kentucky exemptions

Law: KRS 427.160

$1,675 plus up to $15,800 of any unused part of the (d)(1) homestead amount

Law: 11 U.S.C. 522(d)(5)

$300 in tools needed in your trade. Farmers: $3,000 in farm tools, equipment and livestock. Ministers, attorneys, physicians, surgeons, chiropractors, veterinarians and dentists: $1,000 in professional library, office equipment and instruments.

Law: KRS 427.030; KRS 427.010(1); KRS 427.040

$3,175

Law: 11 U.S.C. 522(d)(6)

A creditor can garnish no more than the lesser of 25% of your weekly take-home pay or the amount above 30 times the federal minimum hourly wage. This limit does not apply to support orders, Chapter 13 orders or tax debts.

Law: KRS 427.010(2)-(3)

IRAs, Roth IRAs, 401(k)s, pensions and other tax-deferred retirement plans are exempt, except contributions made within 120 days before filing and amounts subject to child support or maintenance orders. Kentucky public pensions are also exempt.

Law: KRS 427.150(2)(e)-(f)

No dollar limit (IRAs are capped under 522(n))

Money in traditional and Roth IRAs is protected up to $1,711,975 in total.

Law: 11 U.S.C. 522(d)(12); 11 U.S.C. 522(n); 90 FR 8941

Public assistance is exempt while not mixed with other money. Unemployment benefits are exempt while not mixed with other funds (except for necessaries bought while unemployed). Workers' compensation is exempt except for child support.

Law: KRS 205.220(3); KRS 341.470(4); KRS 342.180

Your right to receive Social Security, unemployment, public assistance, veterans' and disability benefits; alimony and support you reasonably need; and certain pension or annuity payments you reasonably need: No dollar limit (some only as much as you reasonably need)

Your right to certain payments: crime victim awards, wrongful-death and life-insurance payments for someone you depended on, personal bodily injury payments (not pain and suffering or actual money losses), and payments for lost future earnings: Crime-victim awards: no limit. Personal injury payment: up to $31,575. Others: as much as you reasonably need

Law: 11 U.S.C. 522(d)(10); 11 U.S.C. 522(d)(11)

• Alimony and support you need for yourself and your dependents are exempt.
• Crime victim awards are exempt. Wrongful death payments and payments for lost future earnings are exempt to the extent you need them for support, and up to $7,500 of a personal bodily injury payment (not pain and suffering or actual money losses) is exempt.
• Benefits from assessment or cooperative life or casualty insurers and fraternal benefit societies are exempt.

Law: KRS 427.150(1); KRS 427.150(2)(a)-(d); KRS 427.110

An unmatured life insurance policy you own (not credit life insurance): No dollar limit

Cash value of life insurance: $16,850

Health aids prescribed by a professional for you or a dependent: No dollar limit

Law: 11 U.S.C. 522(d)(7); 11 U.S.C. 522(d)(8); 11 U.S.C. 522(d)(9)