Exemptions that May Protect Inherited Assets in Texas
Even if an inheritance becomes part of your bankruptcy estate, Texas law provides exemptions that can protect certain assets:
Homestead Exemption: Your inherited primary residence may be fully protected.
Vehicle Exemption: One vehicle per licensed household member can be exempt.
Personal Property: Up to $50,000 for individuals or $100,000 for families, covering furniture, clothing, and household goods.
Life Insurance & Retirement Benefits: Certain inherited life insurance proceeds and retirement accounts may be protected.
These exemptions help you keep essentials while still allowing creditors access to non-essential assets. Proper planning with an attorney ensures you maximize protections.
***Peace Of Mind For You, A Fresh Start For Your Family***
Austin Bankruptcy Lawyers
3800 North Lamar Blvd # 200
Austin, TX 78756