The bankruptcy laws allow people to keep large amounts of property out of the reach of creditors. In fact, most people are able to keep all of their property. The exceptions are usually those items for which the filer has a large loan obligation such as an expensive car, recreational vehicle or investment property. Even in those cases, there may be ways that can enable the filer to keep those possessions as well.
At Zingarelli Law Office, our goal is to help each person keep as much property as possible while obtaining maximum debt relief. We make full use of every available exemption, and we have creative solutions to challenging problems. Contact our Cincinnati bankruptcy exemption lawyers today for a no-obligation consultation.
A resident of Ohio filing bankruptcy must claim the exemptions provided by Ohio law. Some of the Ohio property exemptions include:
In addition, all qualified retirement accounts such as 401(k)s, 403(b)s and IRA are exempt, as are 529 and Coverdell ESA contributions made more than two years before filing. Unemployment benefits, workers’ compensation benefits and Supplemental Security Income are exempt as well.
You must live in Ohio for an uninterrupted period of two years to claim the Ohio exemptions. If you have lived part of that time in Ohio or another state, in most cases, you must claim the federal exemptions.
Our Ohio debt relief lawyers provide a personalized solution for every client. We will carefully examine your financial situation and property to develop a strategy designed to enable you to keep as much of your property as possible.
Keeping your property is our top priority. Contact Zingarelli Law Office online or call 513-381-2047 for a no-obligation initial consultation today. With an office in downtown Cincinnati, Ohio, we serve clients throughout southwest Ohio and northern Kentucky.