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)

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 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 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)