February 8, 2019
You won’t lose everything when filing for bankruptcy in Kansas. You’ll be able to use the Kansas bankruptcy exemptions to protect the things you’ll need to work and live, such as your home, personal items, and a retirement account.
Learn more in Filing Bankruptcy in Kansas.
Some states allow residents to choose between the state and the federal bankruptcy exemptions, but that option isn’t available in Kansas. You’ll use Kansas state exemptions and, if helpful, the federal nonbankruptcy exemptions.
Here are some of the more common exemptions in Kansas. When reviewing them, you’ll want to keep these things in mind:
60-2301 - You can protect real estate, a manufactured home, or mobile home that you use as your residence. The value is unlimited; however, the acreage can’t exceed one acre in a city or town or 160 acres on a farm.
60-2304 - Equity in a motor vehicle up to $20,000.
60-2304 - One year’s worth of clothing; reasonably necessary household equipment and furnishings; one year’s worth of food and fuel; jewelry and articles of adornment up to $1,000; burial plot.
60-2315 - Earned income tax credits.
16-310 - Funeral plan prepayments.
60-2308; 11 U.S.C. § 522 - Tax exempt retirement accounts (including 401(k)s, 403(b)s, profit-sharing and money purchase plans, SEP and SIMPLE IRAs, and defined benefit plans), IRAS and Roth IRAs to the maximum amount. (This amount is set by federal law. See Federal Bankruptcy Exemptions for updates on this dollar amount.)
12-5005 - Police officers and firefighters.
20-2618 - Judges.
72-5526 - State school employees.
74-4923 - Public employees.
74-4978g - State highway patrol officers.
39-717 - General assistance.
60-2313 - Unemployment and worker's compensation; crime victim's compensation.
Tools of the Trade
48-245 - National Guard uniforms, arms, and equipment.
60-2304 - Equipment, instruments, furniture, books, documents, breeding stock, seed, stock, and grain up to $7,500 total.
40-414 - Life insurance proceeds.
60-2313 - Life insurance proceeds or cash value deposited into a bank account (not exempt if deposited within 1 year of filing for bankruptcy); disability and illness benefits; fraternal benefit society benefits.
41-326 - Liquor licenses.
Add any applicable federal nonbankruptcy exemptions.
Some people can keep all assets, but that isn’t always true. Here’s what will happen to nonexempt property:
You’ll learn more about Chapter 7 and 13 in Which Type of Bankruptcy is Right for Me?
This list includes the majority of bankruptcy exemptions available in Kansas. However, doesn’t include all exemptions. Also, states often create qualification requirements for specific exemptions, and Kansas might have changed the amounts since this list was last updated. Check the Kansas Statutes Annotated or with a local bankruptcy lawyer.
To learn more about bankruptcy exemptions, the state exemption system, and the homestead exemption rules, read Bankruptcy Exemptions – What Can I Keep When I File for Bankruptcy?