Texas Bankruptcy Exemptions

Homestead

Prop. 41.001 & Prop. 41.002 - Unlimited amount, but cannot exceed 10 acres in a city, town, or village, or 100 acres (200 acres for family) elsewhere. Sale proceeds are exempt for 6 months after sale.

Prop. 41.005 - Homestead declaration must be filed or the court will charge you to file it for you.

Personal Property

Prop. 41.001 - Burial plots and health aids; books containing sacred writings of a religion (exempt from the $60,000 family/$30,000 single total personal property allowed).

Prop. 42.002 - Home furnishings, including family heirlooms; food; clothing; jewelry up to 25% of the "SPECIAL LIMIT" stated below; 2 firearms; athletic & sporting equipment (includes bicycles); 1 motor vehicle for each adult with drivers license or who relies on another to operate a vehicle; 2 horses, mules, or donkeys, with saddle, blanket & bridle for each; 12 head cattle; 6O head other livestock; 120 fowl; food on hand for these animals; and household pets. SPECIAL LIMIT Total of all items under Property 42.002 (including tools of trade and cash value of life insur¬ance) cannot exceed $30,000 total ($60,000 for head of family).

Prop. 42.0021 - Health savings accounts.

Wages

Prop. 42.001 - Earned but unpaid wages; and unpaid commissions for personal services up to 25% of the "SPECIAL LIMIT" stated above.

Pensions

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

Govt. 821.005 - Teachers.

Govt. 821.004 - Judges.

Govt. 821.006 - County and district employees.

Govt. 615.005 - Law enforcement officers, firefighters, and emergency medical personnel's survivors.

6243d-1 - Police officers.

6243e - Firefighters.

6243h & Govt. 811.005 - State employees, elected officials, and municipal employees.

Prop. 42.0021- ERISA-qualified church or government benefits, including IRAs and Keoghs; retirement benefits to extent tax-deferred.

Public Benefits

Labor 207.075 - Unemployment compensation.

Labor 408.201 - Workers' compensation.

Crim. Proc. 56.49 - Crime victims' compensation.

Hum-Res. 31.040 - Public assistance.

Hum-Res. 32.036 - Medical assistance.

Tools of Trade

Prop. 42.002 - Tools, books, and equipment, including motor vehicles and boats used in trade or profession; and farming or ranching vehicles and implements. Tools of trade exemptions are included in the "SPECIAL LIMIT" listed under Personal property.

Insurance

Insur. 1551.011 - Texas employee uniform group insurance.

Insur. 1575.006 - Texas public school employees group insurance.

Insur. 1601.008 - Texas state college or university employee benefits.

Insur. 885.316 - Fraternal benefit society benefits.

Insur. 1108.051 - Life, health, accident or annuity benefits, policy proceeds, cash values and monies due or already paid to beneficiary or insured.

1407a - Church benefit plan benefits.

Miscellaneous

Prop. 42.001 - Alimony and child support.

Educ. 54.709 - Higher education savings plan trust account.

Alco. Bev. Code 11.03 - Liquor permits and licenses.

Educ. 54.639 - Prepaid tuition plans.

6132b-2.04 - Business partnership property.

Other - Add any applicable Federal Nonbankruptcy Exemptions


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This website contains information related to law and is NOT LEGAL advice. It contents is for information only. If you need legal advice, please consult an attorney or act as your own.
All documents typed are prepared by Rica Gilmore.