Nebraska State Economy:
Nebraska is home to Berkshire Hathaway, ConAgra Foods, Mutual of Omaha and TD Ameritrade. Agribusiness and Food Processing, Biosciences, Advanced Manufacturing, and Financial Services are key industries in the Nebraska economy.
Nebraska Bankruptcy Court Locations:
460 Robert V. Denney Federal Building
United States Courthouse
100 Centennial Mall North
Lincoln, NE 68508
Roman L. Hruska
United States Courthouse
111 South 18th Plaza
Omaha, NE 68102
Nebraska State Bankruptcy Exemptions:
Nebraska Homestead Exemption
You can protect up to $60,000 of equity in the home in which you live and the land on which it sits, as long as it does not exceed two lots in a city or village or up to 160 acres outside of a city or village. (Neb. Rev. Stat. § 40-101.) The proceeds from the sale of your home are exempt, up to the amount of the homestead exemption, for six months after the sale. (Neb. Rev. Stat. §§ 40-113, 40-116.)
Nebraska Motor Vehicle Exemption
Each debtor can protect the equity in one motor vehicle up to $5,000 per vehicle. (Neb. Rev. Stat. § 25-1556(1)(e).)
Nebraska Wildcard Exemption
The wildcard exemption allows you to protect any personal property (not real estate or wages) of your choosing up to a value of $5,000. (Neb. Rev. Stat. § 25-1552.)
Nebraska Tools of the Trade Exemption
You can protect up to $5,000 of tools and implements used in your trade or profession, but you can’t use the exemption on a motor vehicle. (Neb. Rev. Stat. § 25-1556(1)(d).)
Other Bankruptcy Exemptions in Nebraska:
⦁ Insurance benefits. Life insurance or annuity proceeds up to $100,000 of the loan value. (Neb. Rev. Stat. § 44-371)
⦁ Personal property. An unlimited amount of immediate personal possessions, clothing, and professionally prescribed health aids. Up to $3,000 in furniture and household goods (Neb. Rev. Stat. §§25-1556(1)(a)-(c), (f)); burial plot (Neb. Rev. Stat. § 12-506); personal injury or wrongful death award in a structured settlement (Neb. Rev. Stat. § 25-1563.02).
⦁ Pension, retirement, and life insurance benefits. County employees’ retirement benefits (Neb. Rev. Stat. § 23-2322); military disability benefits, not exceeding $2,000 (Neb. Rev. Stat. § 25-1559); ERISA-qualified benefits necessary for support, including IRAs (Neb. Rev. Stat. § 25-1563.01); school employees’ retirement benefits (Neb. Rev. Stat. § 79-948); state employees’ retirement benefits (Neb. Rev. Stat. § 84-1324). Certain federal exemptions for retirement funds might also be available under 11 U.S.C. § 522(b)(3)(C).
⦁ Public benefits. Workers’ compensation benefits (Neb. Rev. Stat. § 48-149); aid to the blind, aged, disabled, and public assistance (Neb. Rev. Stat. § 68-1013); earned income tax credit (Neb. Rev. Stat. § 25-1553); unemployment compensation (Neb. Rev. Stat. § 48-647); general assistance to the poor (Neb. Rev. Stat. § 68-148).
⦁ Wages. 30 times the federal minimum wage or 75% of earned but unpaid earnings; 85% of unpaid earnings for the head of household. A judge can approve more for low-income persons. (Neb. Rev. Stat. § 25-1558)
⦁ Miscellaneous. Disability proceeds to $200 per month (Neb. Rev. Stat. § 44-754); fraternal benefits society benefits to a $10,000 loan value (Neb. Rev. Stat. § 44-1089); some partnership property (Neb. Rev. Stat. § 67-325(2)(c)); any exemptions found in the ⦁ federal ⦁ nonbankruptcy⦁ exemptions.