| No. | Type of Asset | Explanation | Amount of Exception | Legal Citation |
| I | Cash, Exemption | Includes: cash, bank accounts, saving bonds, and tax refunds | $6,000 — Only available if not using Homestead Exemption. This exemption will be reduced if using more than $6,000 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 | $179,950.00 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 | $4,825.00 limit. (If motor vehicle has been equipped for use by a disabled debtor then the limit is $11,975.00). | 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 ($600.00 limit), seat or pew at place of public worship, domestic animals and food for 120 days ($1,175.00 limit), wearing apparel, household furniture, refrigerator, radio, television, computer, cell phone, crockery, tableware, cooking utensils, health aids, wedding ring, watch, jewelry and are ($1,175.00 limit), tools of trade ($3,575.00 limit). If no homestead exemption is claimed, then $1,175.00 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 | $9,000.00 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 | $1,175.00 | 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.
