California law provides for two separate schedules to determine exempt property. Figuring out what property is protected depends on the exemption scheme you choose. Determining what property is exempt requires a complete understanding of these exemption laws and laws regarding residency.
The following is a partial list of property exempt from being seized and sold pursuant to the enforcement of a judgment or bankruptcy liquidation:
Property Value or equity
Personal residence $75,000 + homestead exemption
Single motor vehicle $3,300
Jewelry, heirlooms, art $6,750
Personal Property used in business$6,750 or $13,475 if jointly owned with spouse
Personal Injury award $20,725
Life insurance loan value etc. $11,075
There are multiple statutes with conflicting dollar amounts that overlap, so it is important to seek legal advice regarding property that may be exempt.
