No Property Details Amounts Law
1 Homestead Exemption Real Property, including house, co-op, condo, and mobile home or burial plot $21,625 11 USC 522 (d) (1)
2 Motor vehicle Limited to 1 motor vehicle $3,450 11 USC (d) (2)
3 Household furnishings, household goods wearing apparel appliances books Animals Crops musical instruments Must be held primarily for the personal, family or household use of debtor or dependent of the debtor. Aggregate value up to $11,525, however no one item may be valued over $550. 11 USC (d) (3)
4 Jewelry Must be held primarily for the personal, family or household use of debtor or dependent of the debtor. $1,450 11 USC (d) (4)
5 Wildcard exemption Debtor's aggregate interest in any property $1,150 11 USC ((d) (5)
6 Wildcard exemption Any unused amount from the Homestead Exemption Up to $10,825 11 USC (d) (5)
7 Professional books tools of the trade Must be for the debtor or dependent of debtor $2,175 11 USC (d) (6)
8 Life Insurance Any un matured life insurance contract owned by the debtor, other than a credit life insurance contract. (Credit life insurance helps repay a loan on a policy if the policy holder should die before the loan is fully repaid.) Unlimited 11 USC (d) (7)
9 Life Insurance Cash surrender value $11,525 11 USC (d) ( 8)
10 Health aids Professionally prescribed health aids for the debtor or a dependent of the debtor. Unlimited 11 USC (d) (9)
11 A Social security benefits, unemployment compensation, or a local public assistance benefit.   Unlimited 11 USC (d) (10) (A)
12 A veterans' benefit   Unlimited 11 USC (d) (10) (B)
13 A disability, illness, or unemployment benefit   Unlimited 11 USC (d) (10) (C)
14 Alimony, support, or separate maintenance   To the extent reasonably necessary for the support of the debtor and any dependent of the debtor. 11 USC (d) (10) (D)
15 A payment under a stock bonus, pension, profit sharing, annuity, or similar plan or contract on account of illness, disability, death, age, or length of service.   To the extent reasonably necessary for the support of the debtor and any dependent of the debtor

Unless:
11 USC (d) (10) (E)
Such plan or contract was established by or under the auspices of an insider that employed the debtor at the time the debtor's rights under such plan or contract arose.

Or
11 USC (d) (10) (E) (i)
Such payment is on account of age or length of service and such plan or contract does not qualify under section 401(a), 403(b), or 408 of the I.R.S. Code 1986. 11 USC (d) (10) (E) (iii)
16 Crime Victim Award under a crime victim's reparation Unlimited 11 USC (d) (11) (A)
17 Wrong Full Death Benefit A payment on account of the wrongful death of an individual of whom the debtor was a dependent. To the extent reasonably necessary for the support of the debtor and any dependent of the debtor. 11 USC (d) (11) (B)
18 Life Insurance Payment A payment under a life insurance contract that insured the life of an individual of whom the debtor was a dependent on the date of such individual's death. To the extent reasonably necessary for the support of the debtor and any dependent of the debtor. 11 USC (d) (11) (C)
19 Personal Injury Payment on account of personal bodily injury, not including pain and suffering or compensation for actual pecuniary loss of the debtor or an individual of whom the debtor is a dependent. $21,625 11 USC (d) (11) (D)
20 Compensation A payment in compensation of loss of future earnings of the debtor or an individual of whom the debtor is or was a dependent. To the extent reasonably necessary for the support of the debtor and any dependent of the debtor. 11 USC (d) (11) (E)
21 Retirement Funds   To the extent that those funds are in a fund or account that is exempt from taxation under section 401, 403, 408, 408A, 414, 457, or 501(a) of the IRS Code of 1986 11 USC (d) (12)

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by Jeffrey B. Peltz P.C. All rights reserved.