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following exemptions are made available for historical reference
Texas Personal Property Exemptions: The Property Creditors Can Not Touch!
Your Texas bankruptcy lawyers can use state law to protect the equity in your personal property. Listed below are some of the most common types of Texas bankruptcy exemptions that a lawyer can use to help keep creditor's hands off your cherished possessions. The Texas bankruptcy exemptions below are intended for educational purposes only. They are not intended as legal advice, as their practical application in a U.S. federal bankruptcy case is often very involved. Additionally, the Texas bankruptcy exemptions below are not an exhaustive list, therefore you should contact our Texas bankruptcy lawyers to determine what other types of property you own may be exempt.
Homestead Texas Bankruptcy Exemptions
These Texas bankruptcy exemptions can be used to protect up to 200 acres per family (100 acres for a single adult) of rural land or 10 acres of land including your home on that land.
Motor Vehicle Texas Bankruptcy Exemptions
Your Texas bankruptcy lawyers can use this exemption to protect 100% of your interest in any one motor vehicle listed in your U.S. federal bankruptcy.
Clothing, Textbooks, Bible, Family Pictures Texas Bankruptcy Exemptions
These Texas bankruptcy exemptions allow your U.S. federal bankruptcy lawyers to protect 100% of your interest in various personal items such as your clothing and personal heirlooms.
Life Insurance Proceeds Texas Bankruptcy Exemptions
These Texas bankruptcy exemptions can be used to protect a payment under a life insurance contract that insured the life of an individual of whom you were a dependent, to the extent reasonably necessary for your support or the support of your dependent(s).
Alimony, Support Texas Bankruptcy Exemptions
Your U.S. federal bankruptcy lawyers may also be able to exempt alimony, support, or separate maintenance, to the extent reasonably necessary to help support you during your bankruptcy.
Proceeds of Sale of Homestead Texas Bankruptcy Exemptions
Along with the Homestead Texas Bankruptcy Exemptions mentioned above, a lawyer may also exempt proceeds if you sell your home within one year prior to the bankruptcy.
Qualified Retirement Plan Texas Bankruptcy Exemptions
Your U.S. federal bankruptcy lawyers can prevent creditors from touching the proceeds of your hard-earned retirement plan. They can exempt anything from stock bonuses, pensions, profit sharing plans and annuities as long as we determine that your savings are in a qualified retirement plan.
Tools of the Trade, Professional Books Texas Bankruptcy Exemptions
These are useful Texas bankruptcy exemptions that can be used to protect up to $750 of the tools you use in your profession. For example, shears, scissors and combs are the tools of a hairdresser, as are wrenches and hammers for a mechanic and carpenter.
Unemployment Compensation Benefits Texas Bankruptcy Exemption
Your U.S. federal bankruptcy attorneys can protect all of your unemployment compensation from creditors' reach. However, past due child support may still be deducted from the income of people receiving public assistance.
Worker's Compensation Texas Bankruptcy Exemptions
These Texas bankruptcy exemptions can be used to protect 100% of compensation you receive under Texas workers' compensation laws. Your U.S. federal bankruptcy lawyers can protect both 100% of your wages and 100% of the award you receive to compensate you for any permanent disability. In Texas, workers' compensation cases are 100% exempt. If you are injured while working then that is money you deserve and creditors will be prevented from reaching those funds.
Wildcard Texas Bankruptcy Exemptions (Any Personal Property of Debtor)
Your U.S. federal bankruptcy attorneys can protect 100% of your interest in any 2 firearms; 100% of farming and ranching vehicles; and 100% of your interest in 2 horses, mules or donkeys plus a saddle, blanket and bridle for each, 12 head of cattle, 60 head of other types of livestock, and 120 fowl.
Learn more about Virginia bankruptcy exemptions.
