Indiana Bankruptcy Exemptions

This list of exemptions updated December 2009. All law references are to Indiana Code unless otherwise noted. Federal bankruptcy exemptions are not available in Indiana.

Homestead

34-55-10-2 - Real or personal property used as a residence up to $15,000; tenancies by the entirety may be exempt from debts incurrecy by only one spouse.

Personal Property

30-4-3-2 - Spendthrift trusts.

34-55-10-2 - Health aids; medical savings account monies; up to $300 of intangible personal property (except for money owed to you); up to $8,000 of real estate or tangible personal property; .

Wages

24-4.5-5-105 - Either minimum of 75%° of earned but unpaid wages or 30 times the federal minimum hourly wage: whichever is greater. Judge may approve more for low-income debtors.

Pensions

11 U.S.C. § 522 - Tax exempt retirement accounts. Traditional IRAs and Roth IRAs up to $1,095,000 per person.

5-10.3-8-9 - Public employees.

36-8-8-17 & 10-12-2-10 - Police officers.

5-10.4-5-14 - State teachers.

34-55-10-2 - Public or private retirement benefits.

36-8-7-22 & 36-8-8-17 - Firefighters.

36-8-10-19 - Sheriffs

Public Benefits

5-2-6.1-38 - Crime victims' compensation, unless seeking to discharge debt for treatment of crime-related injury which compensation has already been received for.

22-3-2-17 - Workers' compensation.

22-4-33-3 - Unemployment compensation.

Tools of Trade

10-16-10-3 - National guard arms, uniforms, and equipment.

Insurance

27-1-12-14 - Life insurance policy or proceeds if beneficiary is spouse or dependent.

27-1-12-29 - Group life insurance policy.

27-2-5-1 - Life insurance proceeds if policy prohibits use to pay creditors.

27-8-3-23 - Mutual life or accident policy proceeds as needed for support.

27-11-6-3 - Fraternal benefit society benefits.

27-1-12-17.1 - An employer's life insurance policy on an employee.

Misc.

23-4-1-25 - Business partnership property.

Other - Add any applicable Federal Nonbankruptcy Exemptions

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