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Indiana Personal Property Exemptions: The Property Creditors Can Not Touch!!!

In a U.S. federal bankruptcy case, Macey & Aleman can use Indiana law to protect equity in your personal property. Equity is the difference between the market value of your property and the claims held against it. Listed below are some of the most common types of Indiana bankruptcy exemptions and their limits that we can use to help keep creditors' hands off of your possessions. The Indiana 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. For more information contact the Indiana bankruptcy attorneys of Macey & Aleman.

Primary Residence Indiana Bankruptcy Exemptions

The bankruptcy attorneys of Macey & Aleman can use this Indiana exemption to protect up to $7,500 of equity in your house. If you file U.S. federal bankruptcy with a spouse who is also listed on the deed to the house, then up to $15,000 of equity can be protected. This exemption can not be used to protect rental property or a house in which you do not live.

Other Real Estate and Tangible Personal Property Indiana Bankruptcy Exemptions

Macey & Aleman can use these Indiana bankruptcy exemptions to protect up to $4000 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. If you file U.S. federal bankruptcy with a spouse who is a co-owner of this property, then up to $8000 of combined value can be protected. The maximum, though, per person is $10,000.

Intangible Personal Property Indiana Bankruptcy Exemptions

These Indiana bankruptcy exemptions are 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 we can determine that your savings are in a qualified retirement plan.

Life Insurance Policies

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.

Learn more about Maryland bankruptcy exemptions.