Ohio Bankruptcy Laws - Insurance and Benefits
According to Ohio Revised Code Section 2329.66(A) the following items are exempt: 1) Benevolent society
benefits to $5000, 2) Disability benefits to $600 per month, 3) Fraternal benefit society benefits, 4) Group
life insurance policy or proceeds, 5) Life, endowment or annuity contract avails for your spouse, child or
dependent, 6) Life insurance proceeds for a spouse, 7) Life insurance proceeds if clause prohibits proceeds from
being used to pay beneficiary’s creditors. Under Ohio Revised Code Section 2329.69 - Exemptions apply to all
courts - "Sections 2329.63 to 2329.71 of the Revised Code, with respect to exemptions, apply to all courts in
this state, and a person is entitled to all applicable exemptions in any case or proceeding before any court or
officer."
Operation of Ohio bankruptcy laws with the Code
According to 11 U.S.C. 522(l) "The debtor shall file a list of property that the debtor claims as exempt
under subsection (b) of this section. If the debtor does not file such a list, a dependent of the debtor may
file such a list, or may claim property as exempt from property of the estate on behalf of the debtor. Unless a
party in interest objects, the property claimed as exempt on such list is exempt." The trustee, creditors, an
interested party, or the Ohio bankruptcy court upon it's own motion, may file an objection to exemptions designated within a
debtor's schedule. Denial requires notice to debtors and hearing.
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