Tennessee Bankruptcy Exemptions

On this page you can find all of the exemptions for Tennessee. Exemptions are the property that you can keep when you file bankruptcy.

CATEGORY
PROPERTY
AMOUNT
STATUTE
Homestead
Homestead consisting of real property used by debtor, his spouse, or a dependent as principal residence
$5,000 for individual debtor $7,500 if jointly owned and both debtors are involved in the proceeding (must be divided equally); $25,000 if debtor has minor children in custody at homestead (See also TCA §§ 26-2-302, 26-2-303).
Tenn. Code Ann. § 26-2-301
Wages / Wage Garnishment
Disposable earnings (earnings after deductions required by law)
75% OR 30 times the federal minimum hourly wage per week, WHICHEVER IS GREATER, (Add $2.50 per week for each dependent child of the debtor under age 16 residing in state; TCA § 26-2-207.
Tenn. Code Ann. § 26-2-106
Insurance
Accident, health and disability insurance benefits
100%
Tenn. Code Ann. § 26-2-110(a)
Insurance
Insurance proceeds from destroyed exempt homestead
$5,000
Tenn. Code Ann. § 26-2-304
Insurance
Fraternal benefit society payments
100%
Tenn. Code Ann. § 56-25-1403
Insurance
Life insurance and annuity contracts benefits payable to spouse, children or dependent of insured
100% (includes cash surrender value)
Tenn. Code Ann. §§ 56-7-203 & 26-2-110(b)
Personal Property
Professionally prescribed health aids of debtor and dependents
100%
Tenn. Code Ann. § 26-2-111(5)
Personal Property
Compensation for loss of future earnings of debtor or individual of whom debtor is a dependent
Amount reasonably necessary for support of debtor and dependents
Tenn. Code Ann. § 26-2-111(3)
Personal Property
Payments for the wrongful death of debtor or individual of whom debtor was a dependent
$10,000
Tenn. Code Ann. § 26-2-111(2)(C)
Personal Property
Personal injury payments to debtor or individual of whom debtor is a dependent, excluding compensation for pain and suffering and actual pecuniary loss
$7,500
Tenn. Code Ann. § 26-2-111(2)(B)
Personal Property
Necessary wearing apparel of debtor and family and receptacles for holding same, family portraits and pictures, family Bible and school books
100%
Tenn. Code Ann. § 26-2-104
Personal Property
Personal property of state resident(includes money and bank deposits)
$10,000
Tenn. Code Ann. § 26-2-103
Personal Property
Funds recovered in a wrongful death action
100%
Tenn. Code Ann. § 20-5-106(a)
Personal Property
Family cemeteries and burial lots
100% (up to 1 acre)
Tenn. Code Ann. § 26-2-305
Pensions / Retirement Accounts
Retirement benefits--Teachers
100%
Tenn. Code Ann. § 49-5-909
Pensions / Retirement Accounts
Pension benefits received from state or subdivision or municipality thereof
100%
Tenn. Code Ann. § 26-2-105(a)
Pensions / Retirement Accounts
Certain payments under stock bonus, pension, profit sharing, annuity or similar plan or contracts (see statute for specifics)
Same as under Tenn. Code Ann. § 26-2-106 above
Tenn. Code Ann. § 26-2-111(1)(D)
Pensions / Retirement Accounts
State pension moneys and interests in IRC-qualified retirement plans and health savings accounts
100%
Tenn. Code Ann. § 26-2-105
Tools of the Trade
Implements, professional books, or tools of trade of debtor or dependent
$1,900
Tenn. Code Ann. § 26-2-111(4)
Public Benefits
Social security, unemployment, public assistance, veterans, disability or illness benefits
100%
Tenn. Code Ann. § 26-2-111(1)(A), (B), (C)
Public Benefits
Criminal injuries compensation
100%
Tenn. Code Ann. § 29-13-111
Public Benefits
Old age assistance payments
100%
Tenn. Code Ann. § 71-2-216
Public Benefits
Aid to the disabled
100%
Tenn. Code Ann. § 71-4-1112
Public Benefits
Aid to the blind
100%
Tenn. Code Ann. § 71-4-117
Public Benefits
Workmen's compensation benefits
100% (support claims excepted)
Tenn. Code Ann. § 50-6-223
Public Benefits
Crime victim's reparation law awards
$5,000
Tenn. Code Ann. § 26-2-111(2)(A)
Miscellaneous
Child support payments due 30 days or more after date of filing
100%
Tenn. Code Ann. § 26-2-111(1)(F)
Miscellaneous
Alimony due more than 30 days after assertion of claim
100%
Tenn. Code Ann. § 26-2-111(1)(E)
Miscellaneous
Tennessee Investment Services Trust
100%
Tenn. Code Ann. § 35-16-104
Miscellaneous
Beneficiary's interest in a spendthrift trust
100%
Tenn. Code Ann. § 35-15-501, et seq.
Miscellaneous
Aid to dependent children
100%
Tenn. Code Ann. § 71-3-121
Miscellaneous
Specific partnership property
100% of partner's interest
Tenn. Code Ann. §§ 61-1-203 and 61-1-501
Miscellaneous
Liquid assets owed under child support order
100%
Tenn. Code Ann. § 26-2-111(6)
Tuition Savings Account
College education savings plans
100%
Tenn. Code Ann. § 49-7-822

If you want to learn more about filing bankruptcy in Tennessee please visit our FAQ Page or for more information about Tennessee you can visit the Tennessee section.