SYSTEM 1 (see Exemption System 2)
|
| ASSET |
EXEMPTION DESCRIPTION |
LAW SECTION |
| HOMESTEAD |
Real or personal property
you occupy including mobile home, boat, stock cooperative, community
apartment, planned development or condo to $50,000 if single and not
disabled; $75,000 for families if no other member has a homestead
(if
only one spouse files, may exempt one-half of amount if home held as
community property and all of amount if home held as tenants in common),
$125,000 if 65 or older, or physically or mentally disabled; $100,000
if 55 or older, single and earn under $15,000 or married and earn
under
$20,000 and creditors seek to force the sale of your home; sale proceeds
exempt for 6 months after received (husband and wife may not double). |
704.710,
704.720,
704.730
In re McFall, 112 B.R. 336
(9th Cir. B.A.P., 1990) |
| PERSONAL PROPERTY
|
Appliances, furnishings, clothing and food
needed |
704.020 |
| |
Bank deposits from Social Security Administration
to $2000
($3000 for husband and wife) |
704.080 |
| |
Building materials to $2000 to repair or
improve home (husband and wife may not double) |
704.030 |
| |
Burial plot |
704.200 |
| |
Health aids |
704.050 |
| |
Jewelry, heirlooms and art to $5000 total
(husband and wife may not double) |
704.040 |
| |
Motor vehicles to $1900, or $1900 in auto
insurance if vehicle(s), lost, damaged or destroyed (husband and wife
may not double) |
704.010 |
| |
Personal injury and wrongful death causes
of action |
704.140 (a),
704.150 (a) |
| |
Personal injury and wrongful death recoveries
needed for support; if receiving installments, at least 75% |
704.140(b), (c), (d),
704.150 (b), (c) |
| |
May file homestead declaration |
704.920 |
| INSURANCE
|
Disability or health
benefits |
704.130 |
| |
Fidelity bonds |
Labor 404 |
| |
Fraternal unemployment
benefits |
704.120 |
| |
Homeowner’s insurance
proceeds for 6 months after received, to homestead exemption amount |
704.720 (b) |
| |
Life Insurance proceeds
if clause prohibits proceeds from being used to pay beneficiary’s creditors |
Ins. 10132, Ins. 10170,
Ins. 10171 |
| |
Matured life insurance
benefits needed for support |
704.100 (c) |
| |
Unmatured life insurance
policy loan value to $8,000 (husband and wife may double |
704.100 (b) |
MISCELLANEOUS
|
Business or professional licenses |
695.060 |
| |
Inmates’ trust fund to $1000 (husband and
wife may not double) |
704.090 |
| |
Property of business partnership |
Corp. 15025 |
| PENSIONS
|
County employees |
Gov’t 31452 |
| |
County firefighters |
Gov’t 32210 |
| |
County peace officers |
Gov’t 31913 |
| |
Private retirement benefits,
including IRAs and Keoghs |
704.115 |
| |
Public employees |
Gov’t 21201 |
| |
Public retirement benefits |
704.110 |
| PUBLIC BENEFITS
|
Aid to blind, aged, disabled, AFDC |
704.170 |
| |
Financial aid to students |
704.190 |
| |
Relocation benefits |
704.180 |
| |
Unemployment benefits |
704.120 |
| |
Union benefits due to labor dispute |
704.120(b)(5) |
| |
Workers’ compensation |
704.160 |
| TOOLS OF TRADE |
Tools,
implements, materials, instruments, uniforms, books, furnishings, equipment,
vessel, motor vehicle to $5,000 total; to $10,000 total if used by both
spouses in same occupation (cannot claim motor vehicle under tools of
trade exemption if claimed under motor vehicle exemption) |
704.060 |
| WAGES
|
Minimum 75% of wages |
704.070 |
| |
Public employees vacation credits; if receiving
installments, at least 75% |
704.113 |
|
SYSTEM 2 (see Exemption System 1)
NOTE: Married couples may not double any exemptions (se In re Talmadge,
822 F.2d 1120 (9th Cir. 1987);
In re Baldwin, 70 B.R. 612 (9th Cir. B.A.P. 1987)
|
| ASSET |
EXEMPTION DESCRIPTION |
LAW SECTION |
| HOMESTEAD |
Real
or personal property, including co-op, used as residence to $17,425;
unused portion of homestead may be applied to any property |
703.140 (b)(1) |
| PERSONAL PROPERTY
|
Animals, crops, appliances,
furnishings, household goods, books, musical instruments and clothing
to $450 per item |
703.140 (b) (3) |
| |
Burial plot to $17,425, in lieu of homestead |
703.140 (b) (1) |
| |
Health aids |
703.140 (b) (9) |
| |
Jewelry to $1,150 |
703.140 (b) (4) |
| |
Motor vehicle to $2,775 |
703.140 (b)( (2) |
| |
Personal injury recoveries to $17,425 (not
to include pain and suffering; pecuniary loss) |
703.140 (b) (11) (D, E) |
| |
Wrongful death recoveries needed for support |
703.140 (b) (11) (B) |
| INSURANCE
|
Disability benefits |
703.140 (b) (10)() (C) |
| |
Life insurance proceeds
needed for support of family |
703.140 (b) (11) (C) |
| |
Unmatured life insurance
contract accrued avails to $9,300 |
703.140 (b) (8) |
| |
Unmatured life insurance
policy other than credit |
703.140 (b) (7) |
| MISC. |
Alimony, child support needed for support |
703.140 (b) (10) (D) |
| PENSIONS |
ERISA-qualified benefits
needed for support |
703.140 (b) (10) (E) |
| PUBLIC BENEFITS
|
Crime victim’s compensation |
703.140 (b) (11) (A) |
| |
Public Assistance |
703.140 (b) (10) (A) |
| |
Social Security |
703.1400 (b) (10) (A) |
| |
Unemployment compensation |
703.140 (b) (10) (A) |
| |
Veterans’ benefits |
703.140 (b) (10) (B) |
| TOOLS OF TRADE |
Implements, books, and
tools of trade up to $1,750 |
703.140 (b) (6) |
| WAGES |
NONE |
|
| WILD CARD
|
$925 of any property |
703.140 (b) (5) |
| |
Plus unused portion of
homestead or burial exemption, of any property |
703.140 (b) (5) |
(see Exemption System 1)
|
