Nebraska Bankruptcy Exemptions

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Exemptions in Nebraska

Nebraska has opted out of the federal exemption system, and so only state bankruptcy exemptions can be used. Many of the Nebraska exemptions are listed below. The figures listed may be higher for married couples. 

• Homestead (equity in dwelling used as residence)
- Up to $60,000
- Up to two lots in a city or village or up to 160 acres in a more rural area
• Personal property
- Personal possessions and clothing
- Up to $1,500 in furniture, household goods, books, and instruments
- Health aids
- Burial plots, tombs, crypts, niches, and vaults
• Tools of the Trade
- Up to $2,400 of tools or instruments, including a vehicle for work-related travel
• Wages
- 30 times federal minimum wage or 75% of unpaid earnings
- 85% of unpaid earnings for head of household
• Insurance
- Life insurance proceeds up to $100,000
- Fraternal benefit society benefits of up to $100,000
• Pensions
- ERISA retirement benefits, including IRAs
- County, state, and school employee retirement benefits
• Public benefits
- Unemployment compensation
- Workers’ compensation
- Public assistance
- Veterans’ benefits
- Social security
• Other
- Up to $25,000 in health savings accounts
- Personal injury awards
- Business partnership property
• Wildcard (exemption for personal property of your choice)
- Up to $2,500 in personal property

Do I Need a Bankruptcy Lawyer?

Bankruptcy is complex, and it is important to consult with an attorney before filing bankruptcy paperwork. A bankruptcy attorney understands Nebraska law, and can help you keep your exempt property and avoid making common filing mistakes.

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Last Modified: 12-30-2015 01:35 PM PST

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