|
FEDERAL BANKRUPTCY EXEMPTIONS ARE NOT AVAILABLE
All law references are to Arizona Bankruptcy Code. |
|
ASSET |
EXEMPTION |
LAW PROVISION |
|
HOMESTEAD
|
Real property; an apartment or mobile home you occupy to $150,000; sale proceeds exempt 18 months after sale or until new home purchased, whichever occurs first (husband and wife may not double) |
33-1101 |
|
Must record homestead declaration before attempted sale of home |
33-1102 |
|
PERSONAL PROPERTY
husband and wife may double all personal property exemptions
|
2 beds and living room chair per person; 1 dresser, table, lamp, bedding per bed; kitchen table; dining room table and 4 chairs (1 more per person); living room carpet or rug; couch; 3 lamps; 3 coffee or end tables; pictures, paintings, drawings created by debtor; family portraits; refrigerator; stove; TV, radio or stereo; alarm clock; washer; dryer; vacuum cleaner to $6,000 total |
33-1123 |
|
Bank deposit to $300 in one account |
33-1126(A)(8) |
|
Bible; bicycle; sewing machine; typewriter; burial plot; rifle, pistol or shotgun to $1000 total |
33-1125 |
|
Books to $250; clothing to $500; wedding and engagement rings to $2,000; watch to $150; pets, horses, milk cows and poultry to $800; musical instrument to $400; prostheses, including wheelchair |
33-1125 |
|
Food and fuel to last 6 months |
33-1124 |
|
Motor vehicle to $6,000 ($12,000, if disabled) |
33-1125(8) |
|
Prepaid rent or security deposit to $1,000 or 1-1/2 times your rent, whichever is less, in lieu of homestead |
33-1126(D) |
|
Proceeds for sold or damaged exempt property |
33-1126 (A)(5), (7) |
|
INSURANCE
|
Fraternal benefit society benefits |
20-881 |
|
Group life insurance policy or proceeds |
20-1132 |
|
Health, accident or disability benefits |
33-1126(A)(3) |
|
Life insurance cash value to $1,000 per dependent ($25,000 total) (husband and wife may double) |
33-1126 \(A)(3) |
|
Life insurance cash value to $2,000 per dependent ($10,000 total) |
20-1131(D) |
|
Life insurance proceeds to $20,000 if beneficiary is spouse, child or legal guardian |
33-1126(A)(1) |
|
MISCELLANEOUS
|
Minor child’s earnings, unless debt is for child |
33-1126(A)(2) |
|
Property of business partnership |
29-225 |
|
PENSIONS
see also wages
|
Board of regents members |
15-1628(I) |
|
ERISA-qualified benefits deposited more than 120 days before filing bankruptcy |
33-1126(B) |
|
IRAs |
In re Herrscher, 121 B.R. 29 (D. Ariz. 1990) |
|
Firefighters |
9-968 |
|
Police officers |
9-931 |
|
Public safety personnel |
38-850(C) |
|
Rangers |
41-955 |
|
State employees |
38-762 |
| PUBLIC BENEFITS |
Unemployment compensation |
23-783 |
| Welfare benefits |
46-208 |
| Workers’ compensation |
23-1068 |
| TOOLS OF TRADE |
Arms, uniforms and accouterments you are required to keep |
33-1130(3) |
| Farm machinery, utensils, seed, instrument of husbandry, feed, grain and animals to $5,000 total (husband and wife may double) |
33-1130(2) |
| Teaching aids of teacher |
33-1127 |
| Tools, equipment, instruments and books (except vehicle driven to work) to $5,000 |
33-1130(1) |
| WAGES |
Minimum 75% of earned but unpaid wages, pension payments; bankruptcy judge may authorize more for low-income debtors |
33-1131 |
AZ Bankruptcy Exemptions
Arizona Bankruptcy Forms Software