Homestead Exemption

Real or personal property (think trailer, mobile home, boat, condo, etc.) you live in:

$50,000 for single filers not disabled

$75,000 for families with one homestead for all

$150,000 for those 65 years or older, or disabled either physically or mentally

$150,000 for those 55 years or older, single, earn less than $15,000 a year and creditors are trying to force a sale of the home

$150,000 for those 55 years or older, married and earn less than $20,000 jointly and creditors are trying to force a sale of the home 

Real or personal property (think trailer, mobile home, boat, condo, etc.) used as residence, including co-ops: $20,725 

Personal Property

Items of daily living such as appliances, furniture, clothing and food are entirely exempt

Up to $525 per item for the following: Household goods, items of daily living (appliances, furnishings, clothing), books, musical instruments, crops and animals

Burial plot, escrow funds, health aids, jury awards from personal injury or wrongful death suits (for installments, minimum of 75% exempt) 

Health aids, jury awards from wrongful death suits 

$2700 of bank deposits from Social Security (married couple: $4,050)

$2700 for materials to build or repair home (i.e. does not include labor costs)

$6,750 in art, jewelry and other heirlooms

$2,550 for vehicles 

$1,350 of jewelry (no mention of art)

$20,725 of burial plot (if no homestead exemption is claimed)

$3,300 for vehicles

$20,725 of personal injury awards (not including pain & suffering or financial loss)

Insurance

Disability and health benefits; fraternal society benefits, matured life insurance proceeds if needed for financial support

Disability benefits; life insurance proceeds if needed for financial support of family; unmatured life insurance policy other than credit

$10,775 of loan value of unmatured life insurance cash surrender value   

$11,075 accrued in unmatured life insurance

Pensions (note tax-exempt retirement accounts such as 401(k)s, 403(b)s, defined benefit plans, and traditional and Roth IRAs up to $1,095,000 are not covered by state law but ARE exempt under federal law)

Public retirement benefits are exempt.  Likewise, pensions earned by county employees, county firefighters and peace officers, and other public employees are exempt.

Private retirement benefits, such as IRAs and Keoghs

ERISA-qualified benefits that is required for support are exempt

Public benefits

Public assistance, including aid to the blind, elderly and disabled, are exempt. Also exempt are student financial aid, relocation benefits, unemployment compensation, union benefits during labor disputes and workers’ comp.

Public assistance, Social Security, veterans’ benefits, unemployment compensation and crime victims’ compensation are all exempt

Miscellaneous

Business or professional licenses and property of a business partnership are exempt

Alimony & child support necessary for support is exempt.

$1,350 of inmates’ trust funds

At least 75% of wages paid within 30 days before filing bankruptcy

$2,075 for instruments, books and other “tools of the trade”

$1,100 for any property

Vacation credits for public employees (if via installments, minimum 75%)

No state exemption for wages, but filers may use federal non-bankruptcy wage exemption

Unused portion of homestead or burial exemption (see above) of any property