|ASSET||EXEMPTION DESCRIPTION||LAW||IMPORTANT CASES & NOTES|
|Homestead||$60,000 of home equity. No more than 2 lots in City or Village, 160 acres farmland. Sales proceeds protected for 6 months.||§40-101, 40-111, 40-113||Must reside in the home on the date the bankruptcy is filed to claim exemption.|
|Life Insurance & Annuity Contracts||Life insurance or annuity contract proceeds to $100,000||§44-371||Exemption only applies to cash values accrued more than 3 years prior to filing bankruptcy.|
|Fraternal benefit society benefits of up to $100,000||§44-1089|
|Retirement/Pension||Stock, Pension, or Similar Plan or Contract.||§25-1563.01||Limited to an amount “reasonably necessary” for the support of the debtor.|
|Tax Exempt Retirement Accounts||11 U.S.C. §522||In re Euse (2011) Nebraska debtors qualify for the federal exemption of tax deferred retirement accounts in addition to §25-1563.01.|
|Military Disability Benefits to $2,000||§25-1559|
|Crypts, lots, tombs, niches & vaults||§12-605|
|Perpetual Care Funds||§12-511|
|Immediate Personal Possessions||Typically used to protect wedding rings, family photos, jewelry.||§25-1556((1)(a)|
|Health Aids||Professionally prescribed health aids||§25-1556(1)(f)||Does this cover a wheel-chair van? It has been used this way but there is no case on point.|
|Motor Vehicle||$5,000 per debtor||§25-1556(1)(e)||This exemption is commonly combined with the “Wildcard” exemption of §25-1552 to protect up to $10,000 of equity in vehicle. Temporarily unemployed debtor seeking work eligible for exemption. In re Quintero.|
|Household Goods & Furniture||$3,000 per debtor in household furnishings, household goods, household computers, household appliances, books, or
|Public Benefits||Aid to Disabled, Blind, Aged and Aid to Dependent Children||§68-1013|
|Workers Compensation Benefits||§48-149|
|Social Security Benefits||11 U.S.C. §407||In re Carpenter|
|Tools of the Trade||$5,000 per debtor for tools used in trade, other than a motor vehicle||§25-1556(1)(d)|
|Wages||85% of wages or pension payment for Head of Household or 75% for all others.||§25-1558|
|Health Savings Accounts (HSA)||Protection up to $25,000 except for judgments for qualified medical expenses||§-8-1,131|
|Personal Property||Wildcard Exemption. Protects up to $5,000 per debtor of any personal property, including vehicles, bank accounts, etc.||§25-1552||This exemption is commonly combined with the motor vehicle exemption of §25-1556 to protect up to $10,000 of equity in vehicle. Protects cash, bank account deposits, tax refunds and any other personal property.
Exemption may be used to take back garnishments incurred within 90 days of bankruptcy that exceed $600.
|Tax Refunds||$5,000 per debtor.
Earned Income Credit
|College Savings Accounts||Education IRA Accounts§529 College Savings Plans||11.U.S.C. §541(b)(5) & (6)||Protects funds deposited into a qualified college savings account more than one year prior to bankruptcy.|