Indiana Bankruptcy Exemptions
Federal bankruptcy exemptions available? NO
The references to Indiana statutes are to the Indiana Statutes Annotated.
Resources:
United States Bankruptcy Court, Northern District of Indiana
United States Bankruptcy Court, Southern District of Indiana
Indiana Bankruptcy Attorneys
| Indiana Bankruptcy Exemptions
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| Assets |
Exemption |
State Statute |
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| Homestead |
Property that is held as tenancy by the entirety: may be
exempt if only one spouse incurred the debt. |
32-17-3.1; 34-55-10-2(c)(5) |
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Any real or personal property used as a residence: up to
$15,000. |
34-55-10-2(c)(1) |
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| Insurance |
Life insurance policy/proceeds/cash value/avails: all if
beneficiary is the spouse or dependent of the insured. |
27-1-12-14 |
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Employer life insurance policy on employee: all. |
27-1-12-17.1 |
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Group life insurance policy: all. |
27-1-12-29 |
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Life insurance proceeds: all if policy has clause forbidding
proceeds to be used to pay the beneficiary's creditors. |
27-1-5-1 |
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Accident and mutual life insurance proceeds: all necessary for
support. |
27-8-3-23 |
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Benefits from fraternal benefit society: all. |
27-11-6-3 |
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| Miscellaneous |
Property owned by a business partnership: all. |
23-4-1-25 |
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| Pensions |
Federal pension exemptions. |
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Public employee pensions: all. |
5-10.3-8-9 |
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State teacher pensions: all. |
5-10.4-5-14 |
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Police officer pensions: all. |
10-12-2-10; 36-8-8-17 |
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Public and private retirement benefits and contributions: all. |
34-55-10-2(c)(6) |
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Firefighter pensions: all. |
36-8-7-22; 36-8-8-17 |
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Sheriff pensions: all. |
36-8-10-19 |
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| Personal Property |
Spendthrift trusts: all. |
30-4-3-2 |
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Intangible personal property: all except money owed the
debtor. |
34-55-10-2(c)(3) |
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Health aids: all professionally prescribed
for debtor and debtor's dependents. |
34-55-10-2(c)(4) |
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Medical care savings account deposits: all. |
34-55-10-2(c)(7) |
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| Public Benefits |
Crime victims' benefits: all except to discharge debts for
damages covered by the compensation. |
5-2-6.1-38 |
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Worker's compensation benefits: all. |
22-3-2-17 |
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Unemployment compensation benefits: all. |
22-4-33-3 |
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| Tools of Your Trade |
For members of the National Guard: all arms, equipment, and
uniforms. |
10-16-10-3 |
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| Wages |
Wages: at least 75% of disposable weekly earnings for wages
that have been earned but not yet paid or 30 times the federal minimum hourly
wage, whichever is greater.
The bankruptcy judge may allow a larger exemption for low-income debtors. |
24-4.5-5-105 |
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| Wildcard |
Real or tangible personal property: up to $8,000. |
34-55-10-2(c)(2) |
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