Email this page to a friend
Your Fort Wayne bankruptcy lawyer can use Indiana personal property exemptions to protect your assets.
Your Legal Helpers Fort Wayne bankruptcy lawyer is an experienced professional in personal and family financial law. Your Fort Wayne bankruptcy lawyer understands the ways in which state exemptions can be used. However, your Fort Wayne bankruptcy lawyer also recognizes that the appropriate approach is based on that specific client's individual situation.
When you first visit your Legal Helpers bankruptcy lawyer for a free consultation, he will spend most of that time learning more about you and your current financial problems. You should bring current financial records for your Indiana bankruptcy lawyer to see and consider. This information is vital to help your bankruptcy lawyer recommend if you should consider filing for a Chapter 7 or Chapter 13 bankruptcy case.
If your Indiana bankruptcy lawyer recommends that you file for bankruptcy, you can rest assured that he will then use every state exemption possible to protect your assets.
State law offers many types of Indiana exemptions.
The bankruptcy exemptions below are intended for educational purposes only. They are not intended as legal advice, as their practical application in a bankruptcy case is often very involved.
Primary Residence Exemption -- Legal Helpers can use this bankruptcy exemption to protect up to $7,500 of equity in your house. If you file bankruptcy with a spouse who is also listed on the deed to the house, then up to $15,000 of equity can be protected.
Other Real Estate and Tangible Personal Property Exemption -- This exemption protects up to $4,000 of combined value in a house in which you do not live and your personal property such as clothes, furniture and any equity in a vehicle.
Intangible Personal Property Exemption -- This exemption is used to protect up to $100 in "intangible personal property." This includes items such as money in a bank account, tax refunds and proceeds from a lawsuit in which you are the initiating party.
Interests in Pension or Retirement Fund -- In most cases, we can protect 100% of Pension, 401(k) and Public Employees Retirement Plans under Indiana Law as long as your savings are in a qualified retirement plan.
Life Insurance Policies -- The cash value of whole life or universal life insurance policies can be protected in most instances where the beneficiary of the policy is a spouse or dependent.
These are just a few of the Indiana exemptions that could play a major role in your case. Contact the professionals at Legal Helpers today to find out more!
Click here for Our Free Legal Evaluation Form