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ASSET
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EXEMPTION DESCRIPTION
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LAW SECTION
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Homestead
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$12,500; cannot exceed 2 lots in city or village, 160 acres
elsewhere; sale proceeds exempt 6 months after sale
May record homestead declaration
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40-101, 40-111, 40-113
40-105
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Insurance
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Fraternal benefit society benefits to $10,000 loan value
Life insurance or annuity contract proceeds to $10,000 loan value
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44-1089
44-371
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Miscellaneous
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Property of business partnership
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67-325
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Pensions
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County employees
ERISA-qualified benefits needed for support
Military disability benefits to $2000
School employees
State employees
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23-2322
25-1563.01
25-1559
79-1060, 79-1552
84-1324
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Personal Property
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Burial plot
Clothing needed
Crypts, lots, tombs, niches, vaults
Food and fuel to last 6 months
Furniture & kitchen utensils to $1500
Perpetual care funds
Personal injury recoveries
Personal possessions
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12-517
25-1556
12-605
25-1556
25-1556
12-511
25-1563.02
25-1556
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Public Benefits
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Aid to disabled, blind, aged, AFDC
Unemployment compensation
Workers’ compensation
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68-1013
48-647
48-149
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Tools of Trade
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Equipment or tools to $1500
Husband and wife may double
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25-1556
In re Keller, 5 0 B.R. 23
(D.Neb. 1985)
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Wages
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Minimum 85% of earned but unpaid wages or pension payments for head
of family; 75% for all others; bankruptcy judge may authorize more for
low-income debtors
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25-1558
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Wild Card
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$2500 of any personal property, except wages, in lieu of homestead
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25-1552
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