Texas Bankruptcy Exemptions
Prop. 41.001 & Prop. 41.002 - Unlimited amount, but cannot exceed 10 acres in a city, town, or village, or 100 acres (200 acres for family) elsewhere. Sale proceeds are exempt for 6 months after sale.
Prop. 41.005 - Homestead declaration must be filed or the court will charge you to file it for you.
Prop. 41.001 - Burial plots and health aids; books containing sacred writings of a religion (exempt from the $60,000 family/$30,000 single total personal property allowed).
Prop. 42.002 - Home furnishings, including family heirlooms; food; clothing; jewelry up to 25% of the "SPECIAL LIMIT" stated below; 2 firearms; athletic & sporting equipment (includes bicycles); 1 motor vehicle for each adult with drivers license or who relies on another to operate a vehicle; 2 horses, mules, or donkeys, with saddle, blanket & bridle for each; 12 head cattle; 6O head other livestock; 120 fowl; food on hand for these animals; and household pets. SPECIAL LIMIT Total of all items under Property 42.002 (including tools of trade and cash value of life insur¬ance) cannot exceed $30,000 total ($60,000 for head of family).
Prop. 42.0021 - Health savings accounts.
Prop. 42.001 - Earned but unpaid wages; and unpaid commissions for personal services up to 25% of the "SPECIAL LIMIT" stated above.
11 U.S.C. § 522 - Tax exempt retirement accounts; Traditional and Roth IRAs up to $1,095,000 per person.
Govt. 821.005 - Teachers.
Govt. 821.004 - Judges.
Govt. 821.006 - County and district employees.
Govt. 615.005 - Law enforcement officers, firefighters, and emergency medical personnel's survivors.
6243d-1 - Police officers.
6243e - Firefighters.
6243h & Govt. 811.005 - State employees, elected officials, and municipal employees.
Prop. 42.0021- ERISA-qualified church or government benefits, including IRAs and Keoghs; retirement benefits to extent tax-deferred.
Labor 207.075 - Unemployment compensation.
Labor 408.201 - Workers' compensation.
Crim. Proc. 56.49 - Crime victims' compensation.
Hum-Res. 31.040 - Public assistance.
Hum-Res. 32.036 - Medical assistance.
Tools of Trade
Prop. 42.002 - Tools, books, and equipment, including motor vehicles and boats used in trade or profession; and farming or ranching vehicles and implements. Tools of trade exemptions are included in the "SPECIAL LIMIT" listed under Personal property.
Insur. 1551.011 - Texas employee uniform group insurance.
Insur. 1575.006 - Texas public school employees group insurance.
Insur. 1601.008 - Texas state college or university employee benefits.
Insur. 885.316 - Fraternal benefit society benefits.
Insur. 1108.051 - Life, health, accident or annuity benefits, policy proceeds, cash values and monies due or already paid to beneficiary or insured.
1407a - Church benefit plan benefits.
Prop. 42.001 - Alimony and child support.
Educ. 54.709 - Higher education savings plan trust account.
Alco. Bev. Code 11.03 - Liquor permits and licenses.
Educ. 54.639 - Prepaid tuition plans.
6132b-2.04 - Business partnership property.
Other - Add any applicable Federal Nonbankruptcy Exemptions
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All documents typed are prepared by Rica Gilmore.