Indiana Bankruptcy Exemptions

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Jul 16, 2021

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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
Assets Exemption State Statute
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)
  Any real or personal property used as a residence: up to $15,000. 34-55-10-2(c)(1)
Insurance Life insurance policy/proceeds/cash value/avails: all if beneficiary is the spouse or dependent of the insured. 27-1-12-14
  Employer life insurance policy on employee: all. 27-1-12-17.1
  Group life insurance policy: all. 27-1-12-29
  Life insurance proceeds: all if policy has clause forbidding proceeds to be used to pay the beneficiary’s creditors. 27-1-5-1
  Accident and mutual life insurance proceeds: all necessary for support. 27-8-3-23
  Benefits from fraternal benefit society: all. 27-11-6-3
Miscellaneous Property owned by a business partnership: all. 23-4-1-25
Pensions Federal pension exemptions.  
  Public employee pensions: all. 5-10.3-8-9
  State teacher pensions: all. 5-10.4-5-14
  Police officer pensions: all. 10-12-2-10; 36-8-8-17
  Public and private retirement benefits and contributions: all. 34-55-10-2(c)(6)
  Firefighter pensions: all. 36-8-7-22; 36-8-8-17
  Sheriff pensions: all. 36-8-10-19
Personal Property Spendthrift trusts: all. 30-4-3-2
  Intangible personal property: all except money owed the debtor. 34-55-10-2(c)(3)
  Health aids: all professionally prescribed for debtor and debtor’s dependents. 34-55-10-2(c)(4)
  Medical care savings account deposits: all. 34-55-10-2(c)(7)
Public Benefits Crime victims’ benefits: all except to discharge debts for damages covered by the compensation. 5-2-6.1-38
  Worker’s compensation benefits: all. 22-3-2-17
  Unemployment compensation benefits: all. 22-4-33-3
Tools of Your Trade For members of the National Guard: all arms, equipment, and uniforms. 10-16-10-3
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
Wildcard Real or tangible personal property: up to $8,000. 34-55-10-2(c)(2)

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