No. Type of Asset Explanation Amount of Exception Legal Citation
I Cash, Exemption Includes: cash, bank accounts, saving bonds, and tax refunds $5,700 — Only available if not using Homestead Exemption. This exemption will be reduced if using more than $5,700 of Personal Property Exemption or if exempting an annuity that was purchased within the past 6 months N.Y. Debtor and Creditor Law § 283(2)
II Homestead Exemption Home, co-op, condo or mobile home $170,825 for the following counties: Richmond, Kings, Queens, New York, Bronx, Nassau, Suffolk, Westchester, Rockland and Putnam. N.Y. Civil Practice Law § 5206(a)
III Divorce Awards Payments pursuant to an award in a divorce action, for the support of a wife, where the wife is the judgment debtor, or for the support of a child, where the child is the judgment debtor. This is exempt to the extent reasonably necessary for the support of the debtor and any dependents of the debtor. N.Y. Civil Practice Law § 5205(d)(3)

N.Y. Debtor and Creditor Law § 282(2)(d)

IV Cars One per debtor $4,550 limit. (If motor vehicle has been equipped for use by a disabled debtor then the limit is $11,375). N.Y. Debtor and Creditor Law § 282(1)
V New York State College Choice Tuition Savings Program Trust Fund Funds in an account created pursuant to article fourteen-A of the education law are exempt from application to the satisfaction of a money judgment as follows: (a)   100% of monies in an account established in connection with a scholarship.

(b)   100% of monies in an account is exempt where the judgment debtor is the account owner and designated beneficiary of such account and is a minor.

(c)    An amount not exceeding $10,000 in an account, or in the aggregate for more than one account, is exempt where the judgment debtor is the account owner.

N.Y. Civil Practice Law § 5205(I)
VI Personal Property Stoves and heating equipment with fuel for 120 days, sewing machine, books, photos and family portraits ($575 limit), seat or pew at place of public worship, domestic animals and food for 120 days ($1,100 limit), wearing apparel, household furniture, refrigerator, radio, television, computer, cell phone, crockery, tableware, cooking utensils, health aids, wedding ring, watch, jewelry and are ($1,150 limit), tools of trade ($3,400 limit). If no homestead exemption is claimed, then $1,000 in personal property, bank account or cash. The exemption is only available if not using the Homestead Exemption. The aggregate value of assets allowed to be exempt under this section is limited to $11,375. This exemption will be reduced if exempting an annuity that was purchased within the past 6 months. N.Y. Civil Practice Law § 5205(a)(1-9)
VII Wrongful Death Payment due to 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 dependents of the debtor. N.Y. Debtor and Creditor Law § 282(3)(ii)
VIII Pension and Retirement Benefits Payments under a stock bonus, pension plan such as 401(k), 403(b) or other ERISA approved plan, IRA, profit sharing or similar plans are exempt. To the extent reasonably necessary to support debtor and dependents unless the plan was established by the debtor or an insider employed the debtor. N.Y. Debtor and Creditor Law § 282(2)(e)

N.Y. Civil Practice Law § 5205(c)

N.Y. Ins. Law § 4607

IX Personal Injury Awards Payment on account of personal bodily injury $8,550 which does not include pain and suffering or compensation for actual pecuniary loss. N.Y. Debtor and Creditor Law § 282(3) (iii)
X Wild Card for personal property, bank accounts or cash If no Homestead Exemption is claimed $1,150 N.Y. Civil Practice Law § 5205(a)(9)
XI Cemetery Exemption Land, set apart as a family or private burying ground is exempt upon the following conditions only: 1. A portion of it must have been actually used for that purpose; 2. It must not exceed in extent one- fourth of an acre; and, 3. It must not contain any building or structure, except one or more, vaults or other places of deposit for the dead, or mortuary monuments. Completely exempt N.Y. Civil Practice Law § 206(f)
XII Crime Victim Award An award under a crime victim’s reparation statute Exempt N,Y. Debtor and Creditor Law § 282(3)(I)

N.Y. Exec. Law § 632

XIII Future Earnings A payment in compensation of loss of future earnings of the debtor or an individual of whom the debtor is a dependent To the extent reasonably necessary for the support of the debtor and any dependents of the debtor. N.Y. Civil Practice Law § 5205(h)(1)
XIV Health Aides: Medical and Dental Accessories Completely exempt N.Y. Civil Practice Law § 5205(h)(1)
XV Health Aides: Guide, service or hearing dog Completely exempt N.Y. Civil Practice Law § 5205(h)(2)
XVI Insurance: Annuity The use of this exemption may limit the cash and personal property exemption. Exempt unless a court finds a portion of such payments are not necessary to meet the debtor’s ordinary financial needs. Annuities purchased within 6 months of filing are limited to $10,000. N.Y. Ins. Law § 3212

N.Y. Debtor and Creditor Law § 283(1)

XVII Insurance: Disability Insurance Completely exempt N.Y. Ins. Law § 3212(c)

N.Y. Debtor and Creditor Law § 282(2)(c)

XVIII Social Security Completely exempt N.Y. Debtor and Creditor Law § 282(2)(a)
XIX Security Deposits Completely exempt N.Y. Civil Practice Law § 5205(g)
XX Public Assistance Completely exempt N.Y. Debtor and Creditor Law § 282(2)(a)

N.Y. Soc. Serv. Law § 137

XXI Insurance: Life Insurance Proceed from life insurance policies Exempt N.Y. Ins. Law § 3212(b)

N.Y. Debtor and Creditor Law § 282(2)(e)

XXII Partnership Property of a partnership Exempt N.Y. Partnership Law § 5 1(c)
XXIII Trusts Completely exempt N.Y. Civil Practice Law § 205(c)
XXIV Trust Funds Income 90% is exempt N.Y. Civil Practice Law § 5205(d)(1)
XXV Unemployment Compensation Completely exempt N.Y. Civil Practice Law § 5205(a)(7)

N.Y. Labor Law § 595

N.Y. Debtor and Creditor Law § 282(2)(a)

XXVI Veterans’ Benefits Completely exempt N.Y. Debtor and Creditor Law § 282(2)(b)
XXVII Wages: Armed Forces Completely exempt N.Y. Civil Practice Law § 5205(a)(9)
XXIX Workers’ Compensation Completely exempt N.Y. Debtor and Creditor Law § 282(2)(c)

FOR MORE INFORMATION CALL JACOBY & JACOBY AT (631) 289-4600.

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