Ohio

From Bankruptcy Forum

Ohio Bankruptcy Exemptions

Homestead

2329.66 - Real or personal property used as a residence up to $5,000. Tenancies by the entirety are exempt without limit as to debts of one spouse [In re Thomas, 14 B.R. 423 (N.D. Ohio 1981)].

Personal Property

517.09 & 2329.66 - Burial plot.

2329.66 - (1) motor vehicle up to $1,000; (2) clothing, beds and bedding up to $200 per item; (3) cooking unit and refrigerator up to $300 each; (4) cash, bank, and security deposits, tax refund and money due within 90 days up to $400 total; (5) household goods, furnishings, appliances, jewelry up to $400, books, animals, musical instruments, firearms, hunting and fishing equipment and crops up to $200 per item (see LIMIT below); (6) health aids; (7) wrongful death recoveries for person you depended upon for support; (8) compensation for lost future earnings needed for support; (9) personal injury recoveries up to $5,000; (10) $400 of any property; and (11) Tuition credit or payment. LIMIT If homestead is not claimed may not exceed $2,000 total ($1,500 if homestead is claimed). NOTE: Section 2329.66 is relatively detailed and complex, so be sure to read it.

Wages

2329.66 - Greater of the following: 30 times the federal minimum hourly wage or minimum of 75% of disposable weekly earnings. Judge may approve more for low income debtor.

Pensions

11 U.S.C. § 522 - Tax exempt retirement accounts; Traditional and Roth IRAs up to $1,095,000 per person.

145.56 - Public employees.

146.13 - Volunteer firefighters' dependents.

742.47 - Police officers and firefighters.

2329.66 - Public safety officers' death benefits; ERISA-qualified benefits, IRAs Roth IRAs and Keoghs needed for support.

3309.66 - Public school employees.

5505.22 - State highway patrol employees.

Public Benefits

2329.66 & 2743.66 - Crime victims' compensation received within 1 year of filing for bankruptcy.

2329.66 & 3304.19 - Vocational rehabilitation benefits.

2329.66 & 4123.67 - Workers' compensation.

2329.66 & 4141.32 - Unemployment compensation.

2329.66 & 5107.12 - Public assistance.

2329.66 & 5115.07 - Disability assistance.

Tools of Trade

2329.66 - Tools, books, and implements of trade up to $750.

Alimony and Child Support

2329.66 - Alimony and child support needed for support.

Insurance

2329.66 - Benevolent society benefits to $5,000.

2329.66 & 3917.05 - Group life insurance policy or proceeds.

2329.66 & 3921.18 - Fraternal benefit society benefits.

2329.66 & 3923.19 - Disability benefits to $600 per month.

3911.10 - Life, endowment or annuity contract dividends, interest, loan, cash, or surrender value for your spouse, child or other dependent.

3911.12 - Life insurance proceeds for spouse.

3911.14 - Life insurance proceeds if policy prohibits use to pay creditors.

Miscellaneous

1775.24 & 2329.66 - Business partnership property.