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Kentucky Bankruptcy

Exemption Court
Kentucky Bankruptcy Exemption
Homestead:
Land or personal property used as residence up to the aggregate amount of $ 5,000.

Wages:
The greater among the two: 75 % of the disposable earnings or 30 times the federal minimum hourly wage.

Personal Assets:
Personal assets or property of any nature can be exempted up to the aggregate amount of $ 1,000.

Household Furniture, Jewelry, Apparel:
Furniture, jewelry and ornaments along with clothing up to the aggregate amount of $ 3,000.

Farming and Husbandry:
Tools and implements of agricultural farming and farm animals up to the extent of $ 3,000.

Motor Vehicle:
One motor Vehicle and Accessories including one extra tire of total worth $ 2,500 for mechanic or skilled artisan engaged in mend, replacement or servicing of indispensable and important tools.

Crucial Professional Tools:
Tools and implements necessary in continuing trade or profession up to $ 300.

Injury Payment:
Personal injury payment up to the extent of $ 7,500.

Total or Absolute Exemptions for:
  • Duly Prescribed Health Aids.
  • Specific Partnership Property.
  • Proceeds from Life Insurance Policies.
  • Fraternal Benefit Society Benefit.
  • Benefits Arising out of Annuity Contracts.
  • Workmen's & Unemployment Compensation Benefits.
  • Police and Firemen's Pension Benefits.
  • State Employees and Teacher's Retirement Benefits.
  • Public Assistance Benefits.
  • Crime Victims Reparation Awards.
  • No-fault Insurance Benefits.
  • Polices of Group Life Insurance and Health Insurances.

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