Nebraska Bankruptcy Exemptions

This list of exemptions updated August 2007. All law references are to Revised Statutes of Nebraska unless otherwise noted. Federal bankruptcy exemptions are not available in Nebraska.

Homestead

40-101 - For head of household or married debtor, $12,500, but cannot exceed 2 lots in a city or 160 acres elsewhere. Sale proceeds are exempt for 6 months (40-113).

Personal Property

8-1 - Health and medical savings accounts up to $25,000.

12-511 - Perpetual care funds.

12-517 - Burial plot.

12-605 - Tombs, crypts, lots, niches, and vaults.

25-1552 - $2,500 of any property except wages, in lieu of homestead.

25-1556 - Health aids, personal possessions; clothing, furniture, household electronics, personal computers, musical instruments, appliances, and books up to $1,500;.

25-1563.02 - Recovery for personal injuries.

Wages

25-1558 - For head of family, minimum 85% of earned but unpaid weekly earnings or pension payments. For all others, the greater of the following: 30 times the federal minimum hourly wage or 75% of earned but unpaid earnings. Judge may approve more for low income debtor.

Pensions

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

23-2322 - County employees.

25-1559 - Military disability benefits.

25-1563.01 - ERISA-qualified benefits needed for support including IRAs and Roth IRAs.

48-1401 - Public employees' deffered compensation.

79-948 - School employees.

84-1324 - State employees.

Public Benefits

48-149 - Workers' compensation.

48-647 - Unemployment compensation.

68-148 - General assistance to the poor.

68-1013 - Aid to blind, aged, and disabled; public assistance.

Tools of Trade

25-1556 - Tools or equipment up to $2,400. (Subject to doubling) (Can include motor vehicle used for work or to commute to and from workplace.)

Insurance

44-371 - Life insurance or annuity contract proceeds up to $100,000 loan value.

44-1089 - Fraternal benefit society benefits up to loan value of $100,000 unless the beneficiary was convicted of a crime related to the benefits.

Miscellaneous

Other - Add any applicable Federal Nonbankruptcy Exemptions

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