Real or personal Property you occupy including a mobile home, boat, stock cooperative, community apartment, planned development or condo to $75,000.00 if single and not disabled; $100,000.00 for families if no other member has a homestead; $150,000 if age 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 the amount and may file a homestead declaration.
$75,000
Insurance:
* Disability or health benefits
* Fraternal unemployment bonds
* Life insurance proceeds or avails if clause prohibits proceeds from being used to pay beneficiary's creditors
* Fidelity bonds
* Homeowners' insurance proceeds for 6 months after received, to homestead exemption amount
* Matured life insurance benefits needed for support
* Unmatured life insurance policy loan value to
$10,775 husband and wife may double to $21,550
Pensions
* County employees
* County firefighters
* County peace officers
* Private retirement benefits, including IRA's and KEOGHS
* Public employees
* Public Retirement benefits
Miscellaneous
* Property of business partnership
* Business or professional license, except liquor licenses
* Inmates' trust funds to $1,350 (husband and wife may not double)
Personal Property
* Appliances, furnishings, clothing and food needed
* Bank deposits from Social Security Administration to $2,700 ($4,050 for husband and wife.
Note on Social Security:
Bank accounts which receive direct deposits from Social Security are exempt without making a claim if they have $2,700 or less (if one depositor is designated payee) or $4,050 (if two or more depositors are designated payees). Balances over the designated amount are completely exempt as long as traceable to Social Security.
* Building materials to $2,700 to repair or improve home (husband and wife may not double amount)
* Burial Plot
* Health aids
* Jewelry, heirlooms and art to $6,750 total (may not be doubled)
* Motor vehicles to $2,550 in auto insurance if vehicle(s) lost, damaged or destroyed (may not be doubled)
* Personal injury causes of action
* Personal injury recoveries needed for support; if receiving installments at least 75%
* Wrongful death causes of action
* Wrongful death recoveries needed for support; if receiving installments, at least 75%
Public Benefits
* Aid to blind, aged, disabled, AFDC (Aid to Families with Dependant Children)
* Financial Aid to Students
* Relocation benefits
* Union benefits due to labor dispute
* Unemployment benefits
* Worker's Compensation
Tools of Trade
* Tools, implements, materials, instruments, uniforms, books, furnishings, equipment, vessel, motor vehicle to $6,750 total (Motor vehicle limited to $4,850); to $13,475 total (Motor vehicle limited to $9,700) if used by both spouses in same occupation (cannot claim motor vehicle under both tools of trade exemption and motor vehicle exemption.
Wages
* Public employees vacation credits; if receiving installments, at least 75%
* 75% of wages paid within 30 days of filing for bankruptcy
Contact California Bankruptcy Attorney Steven C. Peck with all your Bankruptcy questions toll free at 1.866.999.9085 and visit us online at www.premierlegal.org.
