ASSET

EXEMPTION DESCRIPTION

LAW SECTION

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 $4,000 total

 33-1123

Bank deposit to $150 in one account

33-1126(A)(8)

Bible; bicycle; sewing machine; typewriter; burial plot; rifle, pistol or shotgun to $500 total

33-1125

Books to $250; clothing to $500; wedding and engagement rings to $1,000; watch to $100; pets, horses, milk cows and poultry to $500; musical instrument to $250; prostheses, including wheelchair

33-1125

Food and fuel to last 6 months

33-1124

Motor vehicle to $1,500 ($4,000, 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 or child (husband and wife may double)

33-1126(A)(1)

MISC.

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 $2,500 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 $2,500

33-1130(1)

WAGES

Minimum 75% of earned but unpaid wages, pension payments; bankruptcy judge may authorize more for low-income debtors