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ABOUT CHAPTER 7
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THE CHAPTER 13 DISCHARGE
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Kentucky bankruptcy exemptions   KY Bankruptcy Exemptions

FEDERAL BANKRUPTCY EXEMPTIONS ARE AVAILABLE
All Bankruptcy law references are to Kentucky Revised Code unless noted.

ASSET

EXEMPTION

LAW PROVISION

HOMESTEAD

Real or personal property used as residence to $5,000; sale proceeds exempt

427.060, 427.090

INSURANCE

Annuity contract proceeds to $350 per month

304.14-330

Cooperative life or casualty insurance benefits

427.110(1)

Fraternal benefit society benefits

427.110(2)

Group life insurance proceeds

304.14-320

Health or disability benefits

304.14-310

Life insurance policy if beneficiary is a married woman

304.14-340

Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors

304.14-350

Life insurance proceeds or cash value if beneficiary is someone other than insured

304.14-300

MISCELLANEOUS

Alimony, child support is needed for support

427.150(1)

Property of business partnership

362.270

PENSIONS

Firefighters, police officers

67A.620, 95.8878, 427.120

427.125

IRAs

In re Worthington, 28 B.R. 736 (W.D. KY. 1983)

State employees

61.690

Teachers

161.700

Urban county government employees

67A.350

Other pensions

427.150(2)(e), (f)

PERSONAL PROPERTY

Burial plot to $5,000 in lieu of homestead

427.060

Clothing, jewelry, articles or adornment and furnishings to $3,000 total

427.010(1)

Health aids

427.010(1)

Lost earnings payments needed for support

427.150(2)(d)

Medical expenses paid and reparation benefits received under motor vehicle reparation law

304.39-260

Motor vehicle to $2,500

427.010(1)

Personal injury recoveries to $7,500 (not to include pain and suffering or pecuniary loss)

427.150(2)(c)

Wrongful death recoveries for person you depended on needed for support

427.150(2)(b)

PUBLIC BENEFITS

Aid to blind, aged, disabled, public assistance

205.220

Crime Victims’ Compensation

427.150(2)(a)

Unemployment Compensation

341.470

Workers compensation

342.180

TOOLS OF TRADE

Library, office equipment, instruments and furnishings of minister, attorney, physician, surgeon, chiropractor, veterinarian or dentist to $1,000

427.040

Motor vehicle of mechanic, mechanical or electrical equipment servicer, minister, attorney, physician, surgeon, chiropractor, veterinarian or dentist to $2,500

 

427.030

Tools, equipment, livestock and poultry of farmer to $3,000

427.010(1)

Tools of non-farmer to $300

427.030

WAGES

Minimum 75% of earned but unpaid wages; bankruptcy judge may authorize more for low-income debtors

427.010(2), (3)

WILDCARD

$1,000 of any property

427.160



Kentucky bankruptcy courts  Kentucky Bankruptcy Courts
See the list below for Bankruptcy Courts by District. Click on the District link to go directly to that Bankruptcy Court's web site.

BANKRUPTCY COURTS NUMBER OF COPIES
Eastern District
P.O. Box 111 (40589)
100 East Vine Street
Lexington, KY 40507
Telephone: (606) 233-2608

contact clerks office
Western District
414 U.S. Courthouse
601 W. Broadway, Ste. 546
Louisville, KY 40202
Telephone: (502) 582-5145

contact clerks office

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