Introduction
Bankruptcy exemptions determine what property you can keep while eliminating debts. In Ohio,
exemptions are designed to protect your essential assets so you can start fresh. Knowing which
property is exempt helps you plan and ensures you don’t lose important items.
 

Key Ohio Exemptions
1. Homestead (House) Exemption

• Protects the equity in your primary home.

• Ohio allows a set dollar amount for the value of your home that is exempt.

 

2. Vehicle Exemption

• Protects at least one vehicle, typically your primary car.

• The exemption covers a set dollar amount of equity in the vehicle.

 

3. Personal Property

• Covers everyday items like furniture, appliances, clothing, and tools.

• Firearms are treated like furniture under Ohio law, so your guns are protected up to the exemption limit.

 

4. Household Goods and Furnishings

• Includes tables, chairs, beds, electronics, and other common household items.

 

5. Retirement Accounts

• Most retirement accounts, including 401(k)s, IRAs, and pensions, are fully exempt from bankruptcy.

 

6. Wildcard Exemption

• Ohio allows a “wildcard” exemption for any property you choose.

• This can be used to protect additional equity in a vehicle, personal property, or other valuable items not fully covered by other exemptions.

 

7. Other Exemptions

• Tools of the trade or professional tools.

• Life insurance cash value.

• Certain public benefits like Social Security or unemployment compensation.

 

Why Exemptions Matter
Exemptions are critical because they let you keep essential items while discharging debt.

Properly applying exemptions ensures you retain your home, car, personal property, and other
important assets.
 

Next Steps
Bankruptcy exemptions can be complicated, and each client’s situation is different. Our team can
review your assets, explain your options, and help protect as much property as possible.