Kansas, KS Bankruptcy Exemptions

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The Essential Kansas Bankruptcy Information Guide

Kansas, KS Bankruptcy Exemptions

BANKRUPTCY EXEMPTIONS ARE NOTAVAILABLE.
All law references are to Kansas Bankruptcy Code.

All property of the debtor at the time of the filing for bankruptcy (and certain other property to be received in the future) becomes the property of the bankruptcy estate once bankruptcy is filed. This means that the bankruptcy trustee will take control of this property for purposes of satisfying the creditors. HOWEVER, there is certain property which is either excluded or exempt which the debtor will be able to keep. Property or asset exemption are determined based upon your specific situation, personal income and the individual laws of your state.

The best way to determine which property you will be entitled to keep requires a detailed analysis of your unique and personal situation. Although the following Federal and State Bankruptcy Asset Exemption is provided for your information, we highly recommend Finding a Good Bankruptcy Attorney to help guide you through the Bankruptcy Process.

Kansas Bankruptcy Exemptions

ASSET	EXEMPTION DESCRIPTION	LAW SECTION
HOMESTEAD	Real property or mobile home you occupy or intend to occupy to unlimited value; property cannot exceed 1 acre in town or city, 160 acres on farm,You must occupy or intend to occupy the property at the time you file for bankruptcy.	60-2301 Constitution 15-9
INSURANCE	Fraternal life insurance benefits	60-2313
	Life insurance proceeds or cash value deposited into a bank account (not exempt if deposited within 1 year of filing for bankruptcy)	60-2313
	Life insurance proceeds	40-414
	Disability and illness benefits	60-2313
MISCELLANEOUS	Liquor licenses	60-2313
MISCELLANEOUS	Alimony, maintenance and support.	60-2312
PENSIONS	Elected and appointed officials in cities with population between 120,000 and 200,000	13-14a10
	ERISA-qualified benefits	60-2038(b)
	Federal government pension needed for support and received within 3 months prior to filing bankruptcy	60-2038
	Firefighters	12-5005(e), 14-10a10
	Judges	20-2618
	Police officers	12-5005(e), 13-14a10
	Public employees	74-4923, 74-49, 105
	State highway patrol officers	74-4978g
	State school employees	72-5526
	Payments under pensions, profit sharing, or other contracts of the like on the account of illness, disability, death, age, or length of service as needed for support	60-2312
	Tax exempt retirement accounts; Traditional and Roth IRAs up to $1,095,000 per person	11 U.S.C. § 522
PERSONAL PROPERTY	Burial plot or crypt	60-2304(d)
	Clothing to last 1 year	60-2304(a)
	Food and fuel to last 1 year	60-2304(a)
	Funeral plan prepayments	16-310(d)
	Furnishings and household equipment	60-2304(a)
	Jewelry and articles of adornment to $1,000	60-2304(b)
	Motor vehicle to $20,000; if designed or equipped for disabled persons, no limit	60-2304(c)
PUBLIC BENEFITS	AFDC, general assistance, social welfare	39-717
	Crime victims’ compensation	60-2313
	Unemployment compensation	60-2313
	Workers’ compensation	60-2313
	Veteran's benefits; social security.	60-2313
TOOLS OF TRADE	Books, documents, furniture, instruments, equipment, breeding stock, seed, grain and stock to $7,500 total	60-2304(e)
TOOLS OF TRADE	National Guard uniforms, arms and equipment	48-245
WAGES	The greater of the following: 30 times the federal minimum hourly wage per week or minimum of 75% of disposable weekly wages. Judge may approve more for low income debtor	60-2310
WILD CARD	NONE

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