Kansas City Bankruptcy Attorneys, Troppito Miller Griffin, LLC
When you file Bankruptcy in Kansas, you may keep certain property under the Kansas exemptions. The Kansas exemptions are listed below.
| ASSET | EXEMPTION DESCRIPTION (PROPERTY YOU CAN KEEP) |
| HOMESTEAD | Real property or mobile home you occupy or intend to occupy to unlimited value; property cannot exceed 1 acre in town or city, 160 acres on a farm |
| INSURANCE | Fraternal life insurance benefits
Life insurance forfeiture value if file for Bankruptcy over 1 year after policy issued Life insurance proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors |
| MISC. | Liquor licenses
Property of business partnership |
| PENSIONS | Elected and appointed officials in cities with population between 120,000 and 200,000
ERISA-qualified benefits Federal government pension needed for support and paid within 3 months of filing Bankruptcy (only payments being received) Firefighters Judges Police officers Public employees State highway patrol officers State school employees |
| PERSONAL PROPERTY | Burial plot or crypt
Clothing to last 1 year Food and fuel to last 1 year Funeral plan prepayments Furnishings and household equipment Jewelry and articles of adornment up to $1,000 Motor vehicle to $20,000 (so long as you make payments); if designed or equipped for disabled persons, no limit |
| PUBLIC BENEFITS | AFDC, general assistance, social welfare
Crime victims’ compensation Unemployment compensation Workers’ compensation |
| TOOLS OF TRADE | Books, documents, furniture, instruments, equipment, breeding stock, seed, grain and stock up to $7,500 total
National Guard uniforms, arms and equipment |
| WAGES | Minimum 75% of earned but unpaid wages; bankruptcy judge may authorize more for low-income debtors |
Kansas City Bankruptcy Attorneys Troppito Miller Griffin, LLC, Handle These Complicated Bankruptcy Issues
Since Bankruptcy law is so complicated, you need the trusted and experienced Kansas City Bankruptcy attorneys at Troppito Miller Griffin, LLC to properly advise you and to make sure that you get to keep your property and retirement funds after filing for Bankruptcy protection.