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Kentucky Bankruptcy Exemptions

Federal Supplemental Exemptions can be used in conjunction with your Kentucky exemptions and can be viewed here.

In Kentucky, you may choose to use the Federal Exemption set instead of your state exemptions.

You may also want to visit your local federal bankruptcy court web site:

Also see Kentucky bankruptcy forms.

ASSET

EXEMPTION DESCRIPTION

LAW SECTION

HOMESTEAD

Real or personal property used as residence to $5,000; sale proceeds exempt

427.060, 427.090

INSURANCE

Annuity contract proceeds to $350 per month

304.14-330

 

Cooperative life or casualty insurance benefits

427.110(1)

 

Fraternal benefit society benefits

427.110(2)

 

Group life insurance proceeds

304.14-320

 

Health or disability benefits

304.14-310

 

Life insurance policy if beneficiary is a married woman

304.14-340

 

Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors

304.14-350

 

Life insurance proceeds or cash value if beneficiary is someone other than insured

304.14-300

MISC.

Alimony, child support is needed for support

427.150(1)

 

Property of business partnership

362.270

PENSIONS

Firefighters, police officers

67A.620, 95.8878, 427.120

427.125

 

IRAs

In re Worthington, 28 B.R. 736 (W.D. KY. 1983)

 

State employees

61.690

 

Teachers

161.700

 

Urban county government employees

67A.350

 

Other pensions

427.150(2)(e), (f)

PERSONAL PROPERTY

Burial plot to $5,000 in lieu of homestead

427.060

 

Clothing, jewelry, articles or adornment and furnishings to $3,000 total

427.010(1)

 

Health aids

427.010(1)

 

Lost earnings payments needed for support

427.150(2)(d)

 

Medical expenses paid and reparation benefits received under motor vehicle reparation law

304.39-260

 

Motor vehicle to $2,500

427.010(1)

 

Personal injury recoveries to $7,500 (not to include pain and suffering or pecuniary loss)

427.150(2)(c)

 

Wrongful death recoveries for person you depended on needed for support

427.150(2)(b)

PUBLIC BENEFITS

Aid to blind, aged, disabled, public assistance

205.220

 

Crime Victims’ Compensation

427.150(2)(a)

 

Unemployment Compensation

341.470

 

Workers compensation

342.180

TOOLS OF TRADE

Library, office equipment, instruments and furnishings of minister, attorney, physician, surgeon, chiropractor, veterinarian or dentist to $1,000

427.040

 

Motor vehicle of mechanic, mechanical or electrical equipment servicer, minister, attorney, physician, surgeon, chiropractor, veterinarian or dentist to $2,500

 

427.030

 

Tools, equipment, livestock and poultry of farmer to $3,000

427.010(1)

 

Tools of non-farmer to $300

427.030

WAGES

Minimum 75% of earned but unpaid wages; bankruptcy judge may authorize more for low-income debtors

427.010(2), (3)

WILDCARD

$1,000 of any property

427.160