Re: Fed & State BK exemptions site

Posted by Why Chat (209.240.222.130) on August 27, 2002 at 18:00:46:

In Reply to: Fed & State BK exemptions site posted by Joe on August 27, 2002 at 17:25:24:

Yup, the BK exemption site on my website says the same thing. Oregon apparently DOES count cash value in your OWN life insurance policy, however, in those cases (as in medicaid cases) it is simple to prepay premiums with a policy loan to get below the exempt amount.

Oregon
Homestead • Real property, mobile home or houseboat you occupy or intend to occupy to
$25,000 ($33,000 for joint owners); if you don't own land mobile home is on, to $23,000 ($30,000 joint); property cannot exceed 1 block in town or city of 160 acres elsewhere, sale proceeds exempt 1 year form sale, if you intend to purchase another home. 
Insurance • Fraternal benefit society benefits
Annuity contract benefits to $500 per month
 Group life insurance policy or proceeds not payable to the insured
 Health or disability proceeds or avails
 Life insurance proceeds or cash value if you are not the insured
Miscellaneous • Alimony, child support
Property of business partnership
 Liquor licenses
Pensions and Retirement Benefits • Public Employees or officers
          ERISA qualified benefits, except IRA's
          School district employees 
Personal Property • Books, pictures & musical instruments to $600 total (husband and wife may double) property.
Burial plots
Bank deposits to $7,500; so long as traceable to otherwise exempt funds under Oregon law. Clothing, jewelry & other personal items to $1,800 total (husband and wife may double)
  Domestic animals, poultry with food to last 60 days to $1,000
  Food and fuel to last 60 days if debtor is householder
 Furniture, household items, utensils, radios and TV's to $3,000 total
  Health aids
 Lost earnings payments for debtor or someone debtor depended on, to extent  needed (husband and wife may double)
 Motor vehicle to $1,700 (husband and wife may double)
 Personal injury recoveries to $7,500, not to include pain and suffering (husband
 and wife may double).
 Pistol; rifle or shotgun if owned by person over 16, to $1,000
Public Benefits Exempt • Aid to blind and disabled benefits
Crime victims' compensation (husband and wife may double)
 Civil defense and disaster relief
 General assistance
 Injured inmate's benefits
 Medical assistance
 Old age assistance
 Vocational rehabilitation
Unemployment compensation
 Workers' compensation
Tools of trade • $3,000 exempt, husband and wife may double.
Wages • Minimum of 75% of earned but unpaid wages.
Wild Card • $400 of any personal property, however, can't use to increase existing exemption. Husband and wife may double

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