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Ohio Bankruptcy ExemptionHomestead 2329.66 - Real or personal property used as a residence up to $5,000. Tenancies by the entirety are exempt without limit as to debts of one spouse [In re Thomas, 14 B.R. 423 (N.D. Ohio 1981)]. Personal Property 517.09 & 2329.66 - Burial plot. 2329.66 - (1) motor vehicle up to $1,000; (2) clothing, beds and bedding up to $200 per item; (3) cooking unit and refrigerator up to $300 each; (4) cash, bank, and security deposits, tax refund and money due within 90 days up to $400 total; (5) household goods, furnishings, appliances, jewelry up to $400, books, animals, musical instruments, firearms, hunting and fishing equipment and crops up to $200 per item (see LIMIT below); (6) health aids; (7) wrongful death recoveries for person you depended upon for support; (8) compensation for lost future earnings needed for support; (9) personal injury recoveries up to $5,000; (10) $400 of any property; and (11) Tuition credit or payment. LIMIT If homestead is not claimed may not exceed $2,000 total ($1,500 if homestead is claimed). NOTE: Section 2329.66 is relatively detailed and complex, so be sure to read it. Wages 2329.66 - Greater of the following: 30 times the federal minimum hourly wage or minimum of 75% of disposable weekly earnings. Judge may approve more for low income debtor. Pensions 11 U.S.C. § 522 - Tax exempt retirement accounts; Traditional and Roth IRAs up to $1,095,000 per person. 145.56 - Public employees. 146.13 - Volunteer firefighters' dependents. 742.47 - Police officers and firefighters. 2329.66 - Public safety officers' death benefits; ERISA-qualified benefits, IRAs Roth IRAs and Keoghs needed for support. 3309.66 - Public school employees. 5505.22 - State highway patrol employees. Public Benefits 2329.66 & 2743.66 - Crime victims' compensation received within 1 year of filing for bankruptcy. 2329.66 & 3304.19 - Vocational rehabilitation benefits. 2329.66 & 4123.67 - Workers' compensation. 2329.66 & 4141.32 - Unemployment compensation. 2329.66 & 5107.12 - Public assistance. 2329.66 & 5115.07 - Disability assistance. Tools of Trade 2329.66 - Tools, books, and implements of trade up to $750. Alimony and Child Support 2329.66 - Alimony and child support needed for support. Insurance 2329.66 - Benevolent society benefits to $5,000. 2329.66 & 3917.05 - Group life insurance policy or proceeds. 2329.66 & 3921.18 - Fraternal benefit society benefits. 2329.66 & 3923.19 - Disability benefits to $600 per month. 3911.10 - Life, endowment or annuity contract dividends, interest, loan, cash, or surrender value for your spouse, child or other dependent. 3911.12 - Life insurance proceeds for spouse. 3911.14 - Life insurance proceeds if policy prohibits use to pay creditors. Miscellaneous 1775.24 & 2329.66 - Business partnership property. Other - Add any applicable Federal Nonbankruptcy Exemptions HOME BANKRUPTCY STEPS FREE CONSULTATION EMERGENCY FILING
This website contains information related to law and is NOT LEGAL advice. It contents is for information only. If you need legal advice, please consult an attorney or act as your own. All documents typed are prepared by Rica Gilmore.
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