LIKE US
| Attention: All 94-bankruptcy
districts charge the same filing fees. Chapter 7: $306 Chapter 13: $281 |
|
|
|
|||||||||||
        |
||||||||||||
|
ARIZONA EXEMPTION LISTHow to use this table of exemptions, by Attorney Thomas A. Prediletto. The following is a summary of the Arizona exemptions that can be claimed (used) to exempt both your real and personal property in a bankruptcy petition. However, if your residence has not been continuously in the state of Arizona for the two years prior to filing a bankruptcy petition, there are laws that apply as to which state or federal exemptions may be used. Exempt property of a debtor is property of the debtor that is not available to be used (sold) to pay his/her unsecured creditors and is not subject to the claims of unsecured creditors, but may be subject to the rights of secured creditors and lien holders. When reviewing the list for exemptions for your own property you should be aware that there may not be a “matching” exemption. Some state exemptions contain a “wildcard” which can be used if a matching exemption cannot be found in the list of exemptions. Also, an individual must own an interest in the property to claim the property as exempt. The debtor may exempt the equity (value of property less the total amount owed against it) however; any equity value in the property above the exemption amount may be subject to the claims of unsecured creditors. By way of example, if you own a home worth $250,000 and owe a total of $200,000 against it (combining all mortgage/home equity lines of credit and/or liens against the property) the amount of equity you would need to protect is $50,000. So long as the homestead exemption is more than $50,000 the full amount of the equity is exempt and not subject to the claims of your unsecured creditors. In the alternative, say the home is worth $250,000 and you only owe $100,000 against it, anything over the exemption amount is subject to the claims of the unsecured creditors. The same type example would apply to a motor vehicle, though the exemption for a motor vehicle is less than the amount of the exemption for a home. Please note that all of the exemptions may be doubled if a married couple is filing, with the exception of the homestead exemption. To view Arizona exemption list and amounts available, click here or scroll down the page. To view Arizona Codes, visit Justia US Laws - Arizona Codes. |
|
|||||||||||
| Description | LAW |
Max Individual Amount |
Max Joint Amount |
| Annuity Contract | ARS § 33-1126(A)(7) | UNLIMITED | |
| Arizona Rangers’ Pension Benefits | ARS §41-955 | UNLIMITED | |
| Arms, Uniforms, Etc. Required By Law | ARS § 33-1130(3) | UNLIMITED | |
| Bank Account | ARS § 33-1126(A)(9) | $150.00 | $300.00 |
| Child or Spousal Support | ARS § 33-1126A(3) | UNLIMITED | |
| Corrections Officers Retirement Benefits | ARS §38-897 | UNLIMITED | |
| Damages For Wrongful Levy Or Execution | ARS § 33-1126(A)(8) | UNLIMITED | |
| Disposable Earnings | ARS § 33-1131 | UNLIMITED | |
| District Employees’ Pension Benefits | ARS 48-227 | UNLIMITED | |
| Domestic Pets, Horses, Cow & Poultry | ARS § 33-1125(3) | $500.00 | $1,000.00 |
| Earnings Of Minor Child | ARS § 33-1126(A)(2) | UNLIMITED | |
| Elected Officials’ Retirement Benefits | ARS §38-809 | UNLIMITED | |
| Engagement And Wedding Rings | ARS § 33-1125(4) | $1,000.00 | $2,000.00 |
| Escrow Property | ARS §6-834 | UNLIMITED | |
| Farming equipment | ARS § 33-1130(2) | $2,500.00 | $5,000.00 |
| Food, Fuel And 6 Months Provisions | ARS § 33-1124 | UNLIMITED | |
| Fraternal Benefit Society Benefits | ARS § 20-881 | UNLIMITED | |
| Home Furnishings and Appliances | ARS § 33-1123 | $4,000.00 | $8,000.00 |
| Homestead | ARS § 33-1101 | $150,000.00 | $150,000.00 |
| Ins. Benefits - Health, Accident, Disability | ARS § 33-1126(A)(4) | UNLIMITED | |
| Insur. Proceeds for Exempt. Prop. Damage | ARS § 33-1126(A)(5) | UNLIMITED | |
| Library | ARS § 33-1125(5) | $250.00 | $500.00 |
| Life Insurance - Cash Surrender Value | ARS § 33-1126(A)(6), ARS § 20--1131(D) | UNLIMITED | |
| Life Insurance Proceeds | ARS § 33-1126(A)(1) | $20,000.00 | $40,000.00 |
| Machinery, Feed, Grain Etc. Of Farmer | ARS § 33-1130(2) | $2,500.00 | $5,000.00 |
| Materials Used For Instruction Of Youth | ARS §33-1127 | UNLIMITED | |
| Monies Deposited In Prearranged Funeral Trust | ARS §32-1391.05 | $5,000.00 | $10,000.00 |
| Motor Vehicle | ARS § 33-1125(8) | $5,000.00 | $10,000.00 |
| Motor Vehicle - Physically Disabled Debtor | ARS § 33-1125(8) | $10,000.00 | $0.00 |
| Motor Vehicle Financial Responsibility Payments | ARS § 28-4084 | UNLIMITED | |
| Musical Instruments | ARS § 33-1125(2) | $250.00 | $500.00 |
| Pension Benefits - Firemen | ARS § 9-968 | UNLIMITED | |
| Pension Benefits - Police | ARS § 9-931 | UNLIMITED | |
|
Public Officers’ And Employees Long Term Disability Benefits |
ARS §38-797.11 | UNLIMITED | |
| Public Safety Personnel Retirement Benefit | ARS §38-850 | UNLIMITED | |
| Rent & Security Deposits - Prepaid | ARS § 33-1126(C) | $1,000.00 | $2,000.00 |
| Retirement Benefits - State Employees | ARS § 38-792 | UNLIMITED | |
| Retirement Plan Interest | ARS § 33-1126(B) | UNLIMITED | |
| Tools Of Trade - Instruments, Books Etc. | ARS § 33-1130(1) | $2,500.00 | $5,000.00 |
| Typewriter, Bike, Sewing Machine Etc. | ARS § 33-1125(7) | $500.00 | $1,000.00 |
| Unemployment Compensation Benefits | ARS § 23-783 | UNLIMITED | |
| Watch | ARS § 33-1125(6) | $100.00 | $200.00 |
| Wearing Apparel | ARS § 33-1125(1) | $500.00 | $1,000.00 |
| Welfare Assistance | ARS § 46-208 | UNLIMITED | |
| Wheel Chair & Prosthesis | ARS § 33-1125(9) | UNLIMITED | |
| Workmen's Compensation Benefits | ARS § 23-1068 | UNLIMITED | |
| Wrongful Death Judgment Proceeds | ARS §12-592 | UNLIMITED |
