The Law Offices of Ken McCartney P.C.

Colorado Exemptions

 

Home Since a Chapter 7 Debtor is entitled to keep all property that is exempt under the law where he or she has most recently resided for a concsecutive two years, the state exemption laws are of importance in the bankruptcy business.The following list is a general description of available exemptions to a resident of the State of Colorado from creditor's claims.  These same exemptions can be employed to remove property from a bankruptcy estate.  The exact statutory language that creates these rights may be critical.  To see the the statutes, go to our resource page and follow through to the citation.   
CRS 7-47-106 Property of "cemetery companies"
CRS 7-60-125(c) Specific partnership property 100%
CRS 8-42-124(1), 8-52-107 Workmen's compensation-100%
CRS 8-80-103 Unemployment compensation-100%
CRS 10-7-205 Group insurance -100%
CRS 10-14-403, 10-14-122 Fraternal benefit society benefits-100%
CRS 10-16-212 Insurance proceeds-sickness/accident:$200/month

CRS 13-54-102(1)(a) Wearing apparel $1,500-$3000

$3,000


CRS 13-54-102(1)(b) Jewelry and watches $2,000 -$4,000 (one debtor-husband and wife)
CRS 13-54-102(1)(c) Personal books and family pictures $1,500-$3,000
CRS 13-54-102(1)(d) Burial sites: 1 site or space for debtor and each dependent
CRS 13-54-102(1)(e) Household goods $3,000-$6,000
CRS 13-54-102(1)(f) Provisions and fuel $600-$1,200
CRS 13-54-102(1)(g) Farm/ranch machinery, tools, livestock and poultry $50,000 (one per family)
CRS 13-54-102(1)(h) Pension - armed forces-100% except support
CRS 13-54-102(1)(i) Tools of trade; stock in trade $20,000 -$40,000 excluded by farm/ranch exmption if applicable.
CRS 13-54-102(1)(j)(I) One or more Automobiles, bicycles $5,000 -$10,000
CRS 13-54-102(1)(j)(II) Automobiles of elderly or disabled $10,000
CRS 13-54-102(1)(k) Professional library $3,000
CRS 13-54-102(1)(o) Federal or state earned income tax credit refund-full amount
CRS 13-54-102(1)(I), 10-7-106 Life insurance cash value or annuity $100,000 exclusing of growth in last 48 months

CRS 13-54-102(1)(I)(A) Life insurance - cash or surrender value $100,000

CRS 13-54-102(1)(m) Insurance proceeds - loss of exempt property-extent of exemptions incident to property

CRS 13-54- (l)(I)(B) Death benefits but only from claims against the insured, not from claims against the beneficiary.


CRS 38-41-201, 38-41-201.6, One per Homestead-real property, mobile home or trailer used as a residence $65,000 (<60 yrs old > $90,000)

CRS 13-54-102(1)(p) Health aids, professionally prescribed-100%

CRS 13-54-102(m) personal injury proceeds except as to medical providers treating the injury


CRS 13-54-102(1)(q) Crime victims' reparation awards-100%
CRS 13-54-102(1)(r) Security and utility deposits-100%
CRS 13-54-102(1)(s) Pension/retirement benefits-100% except support
CRS 13-54-102.5, 13-54-102(4) Child support payments deposited into custodial account-100%
CRS 13-54-104(2)(a), 5-5-105 Disposable earnings-greater of 75% or 30 X federal minimum wage
CRS 22-64-120 Retirement benefits - Teachers-100%
CRS 24-4.1-114 Crime victims' compensation payments-100%
CRS 24-51-212 Retirement benefits - Public employees-state
CRS 24-52-102(4) Public employees - Deferred compensation-greater of 75% or 30 X federal minimum wage
CRS 24-54-111 Retirement benefits-employees of local governments-100%
CRS 26-2-131 Public assistance-100%
CRS 31-30-313, 616 Pension - police-100%
CRS 31-30-412, 518 Pension - firemen-100%
CRS 38-41-207 Homestead - Sale proceeds within 1 year, kept separately $65,000
CRS 38-41-209 Insurance proceeds - loss of homestead; amount exempt same as sale
 

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