Bankruptcy in Nebraska

$120,000 in value. The homestead is the house you live in, its outbuildings and the land under it: up to 160 acres outside a city or village, or up to two lots inside a city or village.

The exemption belongs to each natural person living in Nebraska. You do not have to be the head of a family (that requirement was removed in 2024). Mechanics', laborers' and vendors' liens, and a mortgage or deed of trust on the home signed and acknowledged by the owner, can still be enforced against the home.

Law: Neb. Rev. Stat. 40-101, 40-103

$5,970 in one motor vehicle (amount for 2023-2027)

Law: Neb. Rev. Stat. 25-1556(1)(e), (2); Neb. Dept. of Revenue, Revenue Ruling 2023-1

Your and your family's immediate personal possessions and all necessary clothing. Plus $3,582 total (amount for 2023-2027) in household furnishings, household goods, household computers, appliances, books or musical instruments used mainly for personal, family or household use. Health aids prescribed by a professional are also exempt.

Law: Neb. Rev. Stat. 25-1556(1)(a)-(c), (f), (2); Neb. Dept. of Revenue, Revenue Ruling 2023-1

$5,970 in any personal property except wages (amount for 2023-2027)

Law: Neb. Rev. Stat. 25-1552; Neb. Dept. of Revenue, Revenue Ruling 2023-1

$5,970 total in implements, tools, or professional books or supplies (not a motor vehicle) used in your or your family's main trade or business (amount for 2023-2027)

Law: Neb. Rev. Stat. 25-1556(1)(d), (2); Neb. Dept. of Revenue, Revenue Ruling 2023-1

At least 75% of your weekly disposable earnings is exempt. If you are the head of a family, at least 85% is exempt. More is exempt if you earn less than 30 times the federal minimum hourly wage per week. These limits do not apply to support orders or tax debts. Pension payments count as earnings here.

Law: Neb. Rev. Stat. 25-1558

Pension, profit-sharing, stock bonus and similar plans, including IRAs and Roth IRAs that qualify under the tax code, are exempt in bankruptcy to the extent reasonably necessary for the support of you and your dependents. A plan set up or amended to increase contributions within two years before bankruptcy, by you or an insider employer, is not covered.

Law: Neb. Rev. Stat. 25-1563.01

Unemployment benefits are exempt while not mixed with other money (except debts for necessities bought while you were unemployed). Workers' compensation payments are exempt (except child support). Assistance to the aged, blind or disabled, aid to dependent children and similar public assistance cannot be taken.

Law: Neb. Rev. Stat. 48-647, 48-149, 68-1013

• Life insurance and annuity cash values and proceeds are exempt up to $100,000 in total per person. Amounts added within three years before bankruptcy are not protected.
• Pension money received by a resident disabled in U.S. military service, and property bought only with it, is exempt up to $2,000.

Law: Neb. Rev. Stat. 44-371; Neb. Rev. Stat. 25-1559