Kentucky Bankruptcy Exemptions

The chart below contains a summary of Kentucky state bankruptcy exemptions and other relevant statutory laws. Click here for complete State of Kentucky bankruptcy exemptions laws.
Federal bankruptcy exemptions are not available.

Personal exemptions allowed by Kentucky Bankruptcy Laws

Note: Under the 2005 bankruptcy law, almost all types of tax-exempt retirement accounts are exempt in bankruptcy whether state or Federal exemptions are used. Exemptions for 401(k)s, 403(b)s, profit-sharing and money purchase plans, and defined benefit plans include the entire account amounts. However, with traditional and Roth IRAs, the exemption is limited to a total value of $1,171,650 per person for all accounts held by the debtor (not per account). The total value amount is adjusted every three years for inflation. The relevant statutes: 11 U.S.C. §522(d)(12) for Federal bankruptcy exemptions; 11 U.S.C. §522(b)(3)(C) for state bankruptcy exemptions.

Kentucky HomesteadReal or personal property used as residence to $5,000 (sale proceeds exempt)427.060, 427.090
WagesMinimum 75% of disposable weekly earnings or 30 times the Federal minimum hourly wage per week (whichever is greater). Bankruptcy judge may authorize more for low-income debtors.427.010(2), (3)
AutomobileUp to $2,500427.010(1)
Other propertyHealth or disability benefits304.14-310
Alimony and child support needed for support427.150(1)
Clothing, jewelry, articles of adornment, and furnishings to $3,000 total427.010(1)
Health aids427.010(1)
Burial plot to $5,000 (in lieu of homestead)427.060
Library, office equipment, instruments, and furnishings of minister, attorney, physician, surgeon, chiropractor, veterinarian, or dentist to $1,000427.040
Wildcard1,000 of any property427.160

Note: While this reference information is current as of August 2010, it may not reflect the most up-to-date exemption figures on official state of Kentucky bankruptcy court statutes.

Back to all State Bankruptcy Exemptions
Go to Complete State of Kentucky bankruptcy exemptions laws.

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