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Oregon Asset Protection Laws

Filed under Asset Protection Strategies. Fact checked on April 22, 2012.

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These assets are exempted from a state court or bankruptcy proceeding in Oregon.

Homestead: Real property the debtor occupies or intends to occupy up to $40,000 ($50,000 for joint owners). Property cannot exceed 1 block in town or city or 160 acres elsewhere. Sale proceeds exempt 1 year form sale, if debtor intends to purchase another home.

Pensions and Retirement Benefits: ERISA-qualified plans. Funds exempt for public employees or officers, and school district employees. IRA exemptions for conventional, Roth, SEP and SIMPLE plans. Roth IRAs and regular IRAs up to $1,245,000 per person.

Insurance: Annuity contract benefits to $500 per month. Fraternal society benefits. Group life insurance policy or proceeds not payable to the insured. Health or disability proceeds or avails. Life insurance proceeds or cash value if the debtor is not the insured.

Personal Property: Books, pictures and musical instruments to $600 total (husband and wife may double). Burial plots. Bank deposits up to $7,500 which are derived from exempt assets. Clothing, jewelry and other personal items up 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 TVs up 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 up to $3,000 (husband and wife may double). Personal injury recoveries up to $10,000, not to include pain and suffering (husband and wife may double). Pistol, rifle or shotgun if owned by person over 16, up to $1,000.

Tools of Trade: Tools and implements up to $3,000. Husband and wife may double.

Miscellaneous: Business partnership property. Alimony. Child support. Liquor licenses.

Public Benefits: Unemployment compensation. Workers' compensation. Aid to blind and disabled benefits. Crime victim's compensation (husband and wife may double). Civil defense and disaster relief. General assistance. Injured inmate's benefits. Medical assistance. Old-age assistance. Vocational rehabilitation.

Wages: Minimum of 75% of earned but unpaid wages.

Wild Card: $400 of any otherwise nonexempt personal property. Husband and wife may double.

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