Nebraska State Exemption List
Only State Exemptions Allowed
In the state of Nebraska, you are not able to use the federal exemption list and you must choose the Nebraska state Exemption list. There may certain federal supplemental exemptions that you can choose. There also may be certain residency requirements you must meet to use the Nebraska state exemption list. It is important to discuss all exemptions with a Nebraska Bankruptcy Attorney.
The state of Nebraska has created their list of exemptions to allow individuals who are filing bankruptcy in Nebraska to maintain enough personal property, pensions, wages, homestead exemptions and public benefits that they may be able to get a fresh start after bankruptcy.
The following table will outline the Nebraska State Exemptions. Many of your assets may not have a matching exemption.
| Exemptions | Exemption Amount | Statutes |
|---|---|---|
| Homestead | $12,500; cannot exceed 2 lots in city or village, 160 acres elsewhere; sale proceeds exempt 6 months after sale May record homestead declaration |
40-101, 40-111, 40-113 40-105 |
| Wages | Minimum 85% of earned but unpaid wages or pension payments for head of family; 75% for all others; bankruptcy judge may authorize more for low-income debtors | 25-1558 |
| Wild Card | $2500 of any personal property, except wages, in lieu of homestead | 25-1552 |
| Tools of Trade | Equipment or tools to $1500 Husband and wife may double |
25-1556 In re Keller, 5 0 B.R. 23 (D.Neb. 1985) |
| Public Benefits | Aid to disabled, blind, aged, AFDC Unemployment compensation Workers’ compensation |
68-1013 48-647 48-149 |
| Insurance | Fraternal benefit society benefits to $10,000 loan value Life insurance or annuity contract proceeds to $10,000 loan value |
44-1089 44-371 |
| Personal Property | Burial plot Clothing needed Crypts, lots, tombs, niches, vaults Food and fuel to last 6 months Furniture & kitchen utensils to $1500 Perpetual care funds Personal injury recoveries Personal possessions |
12-517 25-1556 12-605 25-1556 25-1556 12-511 25-1563.02 25-1556 |
| Miscellaneous | Property of business partnership | 67-325 |
| Pensions | County employees ERISA-qualified benefits needed for support Military disability benefits to $2000 School employees State employees |
23-2322 25-1563.01 25-1559 79-1060, 79-1552 84-1324 |
