What assets are considered exemptions from bankruptcy court proceedings in Utah?

There are exemptions for bankruptcy Utah law allows debtors to claim when filing their bankruptcy petition.  These exemptions are much more important if you are filing a Chapter 7 bankruptcy, which is a complete liquidation, than if you are filing a Chapter 13, reorganization. In a Chapter 13, you get to keep all your assets because you agree to enter into a repayment plan with your creditors over 3-5 years.  Major Utah bankruptcy exemptions include the following: 

• Real property, mobile home, or water rights up to $20,000 for a primary residence; $5,000 if not a primary residence (joint owners may double).
• Household items sufficient for 12 months, family clothing, excluding jewelry. 
• Disability, illness, medical, or hospital benefits.
• Fraternal society benefits.
• Unmatured life insurance benefits up to $1,500.
• Life insurance proceeds if debtor’s spouse is the beneficiary or dependent and needs the proceeds for support.  
• Medical, surgical and hospital benefits and health aids.
• Child and spousal support.
• Business partnership property.
• ERISA- qualified benefits, IRAs, Keogh's and other pension and retirement accounts (benefits must have accrued & contributions must have been made at least 1 year prior to bankruptcy filing).
• Animals, books, musical instruments, heirlooms up to $500.
• Motor vehicle valued up to $2,500. 
• Books and tools of trade valued up to $3,500.
• Minimum 75% of disposable weekly earnings or 30 times the federal hourly minimum wage, whichever amount is more. For lower income debtors, the bankruptcy judge has discretion to allow a higher percentage to be claimed as exempt.

It is always recommended that you hire a Utah bankruptcy attorney to file your bankruptcy petition and other bankruptcy documents when you file for bankruptcy in Utah.  The attorney can advise you of all the exemptions available to you under Utah bankruptcy laws.