No.Type of AssetExplanationAmount of ExceptionLegal Citation
ICash, ExemptionIncludes: 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 monthsN.Y. Debtor and Creditor Law § 283(2)
IIHomestead ExemptionHome, 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)
IIIDivorce AwardsPayments 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)

IVCarsOne 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)
VNew York State College Choice Tuition Savings Program Trust FundFunds 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)
VIPersonal PropertyStoves 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)
VIIWrongful DeathPayment 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)
VIIIPension and Retirement BenefitsPayments 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

IXPersonal Injury AwardsPayment 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)
XWild Card for personal property, bank accounts or cashIf no Homestead Exemption is claimed$1,150N.Y. Civil Practice Law § 5205(a)(9)
XICemetery ExemptionLand, 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 exemptN.Y. Civil Practice Law § 206(f)
XIICrime Victim AwardAn award under a crime victim’s reparation statuteExemptN,Y. Debtor and Creditor Law § 282(3)(I)

N.Y. Exec. Law § 632

XIIIFuture EarningsA payment in compensation of loss of future earnings of the debtor or an individual of whom the debtor is a dependentTo the extent reasonably necessary for the support of the debtor and any dependents of the debtor.N.Y. Civil Practice Law § 5205(h)(1)
XIVHealth Aides: Medical and Dental AccessoriesCompletely exemptN.Y. Civil Practice Law § 5205(h)(1)
XVHealth Aides: Guide, service or hearing dogCompletely exemptN.Y. Civil Practice Law § 5205(h)(2)
XVIInsurance: AnnuityThe 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)

XVIIInsurance: Disability InsuranceCompletely exemptN.Y. Ins. Law § 3212(c)

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

XVIIISocial SecurityCompletely exemptN.Y. Debtor and Creditor Law § 282(2)(a)
XIXSecurity DepositsCompletely exemptN.Y. Civil Practice Law § 5205(g)
XXPublic AssistanceCompletely exemptN.Y. Debtor and Creditor Law § 282(2)(a)

N.Y. Soc. Serv. Law § 137

XXIInsurance: Life InsuranceProceed from life insurance policiesExemptN.Y. Ins. Law § 3212(b)

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

XXIIPartnershipProperty of a partnershipExemptN.Y. Partnership Law § 5 1(c)
XXIIITrustsCompletely exemptN.Y. Civil Practice Law § 205(c)
XXIVTrust FundsIncome90% is exemptN.Y. Civil Practice Law § 5205(d)(1)
XXVUnemployment CompensationCompletely exemptN.Y. Civil Practice Law § 5205(a)(7)

N.Y. Labor Law § 595

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

XXVIVeterans’ BenefitsCompletely exemptN.Y. Debtor and Creditor Law § 282(2)(b)
XXVIIWages: Armed ForcesCompletely exemptN.Y. Civil Practice Law § 5205(a)(9)
XXIXWorkers’ CompensationCompletely exemptN.Y. Debtor and Creditor Law § 282(2)(c)

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When you work with a New York bankruptcy lawyer at Jacoby & Jacoby, you have the benefit of our years of experience and our extensive resources, all at your disposal as you face these trying times. The stress and emotions associated with mounting debt may leave you feeling hopeless and lost. Thankfully, with the help of a lawyer at our firm, you can begin to take control of your finances and experience much needed relief.

By discussing your situation with an attorney at our firm, you can decide whether bankruptcy is right for you. You can learn what your options are. When you work with an experienced attorney at Jacoby & Jacoby, you will have the support and legal counsel of a professional who will know what to do to help. Finally, you can experience relief from creditors. You can stop worrying about losing your possessions or your home.

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