California Bankruptcy Exemptions
VERSION 1
Homestead
704.730 - Real or personal property occupied at time of filing for
bankruptcy, including mobile home, boat, stock cooperative, community
apartment, planned development or condominium, up to the following limits:
$50,000 if single and not disabled; $75,000 if family and no other member
has homestead; $150,000 if 65 or older or if physically or mentally
disabled; $150,000 if creditors are seeking to force sale of your home and
you are either (a) 55 or older, single and earn under $15,000 per year, or
(b) 55 or older, married and earn under $20,000 per year. Sale proceeds are
exempt for up to 6 months after sale.
Personal Property
704.010 - Motor vehicle or insurance if vehicle lost, destroyed or damaged
up to $2,550.
704.020 - Food, clothing, appliances and furnishings.
704.030 - Building materials to repair or improve home up to $2,700.
704.040 - Jewelry, heirlooms and art up to $6,750 total.
704.050 - Health aids.
704.080 - Bank deposits from Social Security Administration up to $2,700 for
single payee ($4,050 for husband and wife payees); Bank deposits from other
public benefits up to $1,350 ($2,025 for husband and wife).
704.090 - Inmates trust funds up to $1,350.
704.140 - Personal injury causes of action, and recoveries needed for
support.
704.150 - Wrongful death causes of action, and recoveries needed for
support.
704.200 - Burial plot.
Wages
704.070 - 75% of wages paid within 30 days prior to filing bankruptcy.
704.113 - Public employee vacation credits (75% minimum if receiving
installment payments).
Pensions
11 U.S.C. § 522 - Tax exempt retirement accounts. Traditional and Roth IRAs
up to $1,095,000 per person.
704.110 - Public retirement benefits.
704.115 - Private retirements benefits, including IRA and Keogh.
Government 21255 - Public employees.
Government 31452 - County employees.
Government 31913 - County peace officers.
Government 32210 - County fire fighters.
Public Benefits
704.120 - Unemployment benefits and union benefits due to labor dispute.
704.160 - Workers' compensation.
704.170 - Aid to blind, aged and disabled or other public assistance.
704.180 - Relocation benefits.
704.190 - Financial aid to students.
Tools of Trade
704.060 - Tools, implements, materials, books, uniforms, instruments,
equipment, and furnishings up to $6,750, or up to $13,475 if used by both
spouses in the same occupation. Commercial vehicle up to $4,850, or $9,700
if used by both spouses in the same occupation.
Insurance
704.100 - Matured life insurance benefits needed for support of unlimited
value, or unmatured life insurance policy up to $10,775 in value.
704.120 - Fraternal unemployment benefits.
704.130 - Disability or health benefits.
704.720 - Homeowners' insurance proceeds for 6 months after received, up to
amount of homestead.
Labor 404 - Fidelity bonds.
Ins. 10132, Ins. 10170, Ins. 10171 - Life insurance proceeds if policy
prohibits use to pay creditors.
Misc.
695.060 - Business or professional licenses.
Corp. 16501 - Business partnership property.
VERSION 2
Homestead
703.140(b)(1) Real or personal property, including co-op, used as a
residence up to $20,725.
Personal Property
703.140(b)(1) - Burial plot up to $20,725, instead of homestead.
703.140(b)(2) - Motor vehicle up to $3,300.
703.140(b)(3) - Clothing, household goods, appliances, furnishings, animals,
books, musical instruments and crops up to $525 per item.
703.140(b)(4) - Jewelry up to $1,350.
703.140(b)(5) - $15,000 of any property, less any claim for homestead or
burial plot.
703.140(b)(5) - $1,100 of any property. The unused portion of the burial or
household exemption for any property.
703.140(b)(9) - Health aids.
703.140(b)(11) - Wrongful death recoveries needed for support.
703.140(b) (11) - Personal injury recoveries up to $20,725, not to include
pain, suffering or pecuniary loss.
Pensions
11 U.S.C. § 522 - Tax exempt retirement accounts. Traditional and Roth IRAs
up to $1,095,000 per person.
703.140(b)(10) - ERISA-qualified benefits needed for support.
Public Benefits
703.140(b)(10) - Unemployment compensation, Social Security, Veterans'
benefits, and public assistance.
703.140 (b) (11) - Crime victims' compensation.
Tools of Trade
703.140(b)(6) - Tools, books and implements of trade up to $2,075.
Alimony Child Support
703.140(b)(10) - Alimony and child support needed for support.
Insurance
703.140(b)(7) - Unmatured life insurance policy, other than credit.
703.140(b)(8) - Unmatured life insurance contract accrued interest,
dividends, loan, cash or surrender value up to $11,075.
703.140(b)(10) - Disability benefits.
703.140(b)(11) - Life insurance proceeds needed for support.