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Arizona Bankruptcy Exemptions Table

Bankruptcy Lawyer Hollis Joslin provides a exempt property table for Arizona Bankruptcy Here.

Exemptions change from time to time so this table may not be 100% accurate. To verify the accuracy you may consult the United States Bankruptcy Court District of Arizona's Pamphlet regarding bankruptcy exemptions by clicking this link. http://www.azb.uscourts.gov/sites/default/files/Arizona_Exemptions.pdf 

Bankruptcy Attorney Hollis Joslin
Arizona Bankruptcy Exemptions Bankruptcy Lawyer Hollis Joslin

Asset

Exemption Description

Statutory Provision

HOMESTEAD

Interest in real property upon which debtor's house sits, condominium or cooperative, mobile home, or mobile home in which debtor resides plus the land upon which the mobile home is located in the amount of $150,000. May not be doubled by husband and wife.

A.R.S. § 33-1101

PERSONAL PROPERTY

Husband and wife may double all personal property exemptions

Household furniture and furnishings, household goods, including consumer electronic devices, and household appliances personally used by the debtor or a dependent of a debtor and not otherwise specifically prescribed in this chapter in an amount not greater than

$6,000 (total fair market value).

A.R.S. § 33-1123

All food, fuel and provisions for debtor's individual or family use to last up to six months.

A.R.S. § 33-1124

All wearing apparel used primarily for personal, family or household purposes with a fair market value not greater than $500.

A.R.S. § 33-1125(1)

All musical instruments for debtor's individual or family use with a total fair market value not greater than $400.

A.R.S. § 33-1125(2)

Domestic pets, horses, milk cows and poultry with a fair market value not greater than $500.

A.R.S. § 33-1125(3)

All engagement and wedding rings with a total fair market value not greater than $2,000.

A.R.S. § 33-1125(4)

Asset

Exemption Description

Statutory Provision

PERSONAL PROPERTY (cont.)

Debtor's library, including books, manuals, published materials and personal documents with a fair market value not greater than $250.

A.R.S. § 33-1125(5)

One watch with a fair market value not greater than

$150.

A.R.S. § 33-1125(6)

One typewriter, one computer, one bicycle, one sewing machine, a family bible, a burial plot, one shotgun or one rifle or one pistol, with a total fair market value not greater than $1,000.

A.R.S. § 33-1125(7)

Equity in one car not greater than $6,000. If debtor (or debtor's dependent) is physically disabled, the fair market value of the motor vehicle must not be greater than $12,000. (Equity is the fair market value of the motor vehicle minus debt to secured creditor).

A.R.S. § 33-1125(8)

Professional prescribed prostheses for debtor or a dependent of the debtor, including a wheelchair.

A.R.S. § 33-1125(9)

MONEY, BENEFITS OR PROCEEDS

Life insurance proceeds not greater than $20,000 if payable to surviving spouse or child upon the life of a deceased spouse, parent or legal guardian.

A.R.S. § 33- 1126(A)(1)

Minor child's earnings unless debt to be discharged was contracted for the special benefit of the minor child.

A.R.S. § 33- 1126(A)(2)

Child support or spousal maintenance received pursuant to a court order.

A.R.S. § 33- 1126(A)(3)

All money, proceeds or benefits from employer health, accident, disability insurance benefits or similar employer benefit program.

A.R.S. § 33- 1126(A)(4)

Asset

Exemption Description

Statutory Provision

MONEY, BENEFITS OR PROCEEDS

(cont.)

All proceeds from destruction of or damage to exempt property and all proceeds or benefits arising from fire or other insurance on exempt property.

A.R.S. § 33- 1126(A)(5)

Cash surrender value of life insurance policies where for a continuous unexpired period of two years such policies have been owned by a debtor and have named as beneficiary the debtor's surviving spouse, child, parent, brother or sister, or any other dependent family member, except for the amount of any premium that is avoidable by a creditor as a fraudulent transfer.

A.R.S. § 33- 1126(A)(6) and

A.R.S. § 20- 1131(D)

An annuity contract where for a continuous unexpired period of two years such contract has been owned by a debtor and has named as beneficiary the debtor, debtor's surviving spouse, child, parent, brother or sister, or any other dependent family member, except for the amount of any premium that is avoidable by a creditor as a fraudulent transfer.

A.R.S. § 33- 1126(A)(7)

Any claim for damages for levy upon or sale under execution of exempt personal property or for wrongful taking or detention of exempt personal property. Does not apply to annuities, nor to cash surrender values increased by premium payments made within two years in excess of the average annual premium paid during the previous three years.

A.R.S. § 33- 1126(A)(8)

Bank deposit not to exceed $300. This sum is not exempt from normal service charges assessed by the bank holding the funds.

A.R.S. § 33- 1126(A)(9)

Asset

Exemption Description

Statutory Provision

MONEY, BENEFITS OR PROCEEDS

(cont.)

Benefits from ERISA-qualified retirement plan or deferred compensation plan except those amounts contributed within 120 days before a debtor files for bankruptcy.  Does not apply to an alternate payee under a qualified domestic relations order. Does not apply to assets of bankruptcy proceedings filed before July 1, 1987. Not exempt from orders resulting from a judgment for child support arrearages or child support debt.

A.R.S. § 33- 1126(B)

Prepaid rent, including security deposits as provided in

§ 33-1321(A) for debtor's residence, not exceeding the lesser of $2,000 where debtor has not claimed a homestead exemption. Not exempt from orders resulting from a judgment for child support arrearages or child support debt.

A.R.S. § 33- 1126(C)

Group life insurance policy or proceeds.

A.R.S. § 20-1132

SCHOOL EQUIPMENT

Library and philosophical and chemical or other apparatus used for instruction of youth in any university, college, seminary of learning, or school.

A.R.S. § 33-1127

FIRE FIGHTING EQUIPMENT

All fire engines, hooks and ladders, with the carts, trucks, carriages, hose, buckets, implements and apparatus, all furniture and uniforms of any fire company or department formed under Arizona law.

A.R.S. § 33-1128

PUBLIC PROPERTY

All court houses, jails, public offices, buildings, lots, grounds and personal property, the fixtures, furniture, books and papers and appurtenances belonging and pertaining to the jail and public offices belonging to any county or any city of this state and all cemeteries, public squares, parks and places, public buildings, town halls, markets, buildings for the use of fire departments and military organizations, and the lots and grounds thereto belonging and appertaining, owned or held by any town or city or dedicated by such town or city to health, ornament or public use, or for the use of any fire or military company organized under Arizona law.

A.R.S. § 33-1129

Asset

Exemption Description

Statutory Provision

TOOLS AND EQUIPMENT

Tools, equipment, instruments and books (including telephone numbers, client or customer contact information, or marketing tools such as websites, domain names or any other intangible work product) in the possession of debtor or debtor's spouse primarily used and necessary to carry or develop the commercial activity, trade, business or profession of debtor or debtor's spouse, with a fair market value not greater than $5,000. Tools DO NOT include a motor vehicle primarily used for personal, family or household purposes such as transportation to debtor's employment.

A.R.S. § 33-1130(1)

Farm machinery, utensils, implements of husbandry, feed, seed, grain and animals belonging to debtor, with a value not to exceed $2,500, where debtor's primary income is derived from farming.

A.R.S. § 33-1130(2)

All arms, uniforms and accoutrements required by law to be kept by a debtor.

A.R.S. § 33-1130(3)

WAGES, SALARY, COMPENSATION

Seventy-five percent (75%) of disposable earnings. Only one-half of disposable income may be claimed exempt in response to an order for support of any person. These exemptions do not apply in a Chapter 13 bankruptcy filing. “Disposable earnings” means that remaining portion of a debtor's wages, salary or compensation for his personal services, including bonuses and commissions, or otherwise, and includes payments pursuant to a pension or retirement program or deferred compensation plan, after deducting from such earnings those amounts required by law to be withheld.

A.R.S. § 33-1131(B), (C), (D)

WAIVER

Waiver of exemption rights void and unenforceable unless specifically provided in § 33-1122 and when done with notice.

A.R.S. § 33-1132

PENSIONS

Arizona Board of Regents members – benefits, annuities and employee and employer contributions established by the Arizona Board of Regents pursuant to A.R.S. § 15- 1628.

A.R.S. § 15-1628(I)

Asset

Exemption Description

Statutory Provision

PENSIONS (cont.)

IRAs

In re Herrscher, 121

B.R. 29 (D. Ariz. 1990)

Police Officers Pension. Exemption does not apply to court orders which are the result of a judgment for arrearages of child support or for a child support debt.

A.R.S. § 9-931

Fire Fighters' Relief and Pension Fund and distributive portions therefrom. Exemption does not apply to court orders which are the result of a judgment for arrearages of child support or for a child support debt.

A.R.S. § 9-968

Arizona State Retirement System – state employee's survivor benefits before retirement.

A.R.S. § 38-762

Public Safety Personnel Retirement System – benefits, employee contributions or employer contributions, including interest, earnings and all other credits.

A.R.S. § 38-850(C)

Arizona Rangers' Pension

A.R.S. § 41-955

PUBLIC BENEFITS

Unemployment compensation benefits are exempt where proceeds are not commingled with other funds, except debts incurred for necessaries furnished to the individual or his or her spouse or dependents during the time when the individual was employed.

A.R.S. § 23-783

Workers' compensation benefits

A.R.S. § 23-1068

Welfare assistance benefits

A.R.S. § 46-208

Federal Non-bankruptcy Exemptions

Asset

Exemption Description

Statutory Provision

RETIREMENT BENEFITS

Government employees' retirement payments

5 U.S.C. § 8346(a)

Annuities paid to members of the armed services, based on retirement or retainer pay.

10 U.S.C. § 1440

Foreign service employees – Benefits, annuities, or payments to survivors of foreign service employees under the Foreign Service Retirement and Disability System.

22 U.S.C. § 4060(c)

Special pensions awarded to persons on the Army, Navy, Air Force and Coast Guard Medal of Honor roll.

38 U.S.C. § 1562(c)

Payments of benefits due or to become due under any law administered by the Veterans' Administration.

38 U.S.C. § 3101

Retirement annuities paid pursuant to the Railroad Retirement Act of 1974, 45 U.S.C. §§ 231 et seq.

45 U.S.C. § 231m

Social security benefits

42 U.S.C. § 407

Central Intelligence Agency retirement benefit payments

50 U.S.C. § 403

SURVIVORS' BENEFITS

Military survivor annuities paid pursuant to the Survivor Benefits Plan

10 U.S.C. § 1450(i)

Asset

Exemption Description

Statutory Provision

SURVIVORS' BENEFITS (cont.)

Annuities paid to survivors of a Justice or judge of the United States, a Director of the Administrative Office of the United States Courts, a Director of the Federal Judicial Center, or an administrative assistant to the Chief Justice of the United States.

28 U.S.C. § 376(n)

Benefits paid to surviving spouses of lighthouse service personnel.

33 U.S.C. § 775

DEATH & DISABILITY BENEFITS

Disability and death benefits paid to federal government employees as a result of work injuries.

5 U.S.C. § 8130

75% of earned but unpaid wages

15 U.S.C. § 1673

Death and disability payments paid pursuant to the Longshoremen's and Harbor Workers' Compensation Act.

33 U.S.C. § 916

Compensation paid for injury or death resulting from a war risk hazard under the War Hazards Compensation Act, 42

U.S.C. § 1701 et seq.

42 U.S.C. § 1717

MONEY, BENEFITS, PROCEEDS

A United States service member's deposits in a savings institution while the depositor is on permanent duty outside of the United States.

10 U.S.C. § 1035(d)

Benefits due or to become due under servicemen's group life insurance.

38 U.S.C. § 1970(g)

Veterans' benefits

38 U.S.C. § 5301(a)

Asset

Exemption Description

Statutory Provision

Exempts from offset by federal government agencies an amount not to exceed $9,000 owing to a debtor under the Social Security Act, the Black Lung Benefits Act, or laws administered by the Railroad Retirement Board.

31 U.S.C. §

3716(c)(3)(A)

The Secretary of Treasury “shall exempt from administrative offset ... payments under means-tested programs when requested by the head of the respective agency,” and the Secretary is given discretion to exempt from administrative offset such other payments that are requested for exemption by the “head of a payment certifying agency.”

31 U.S.C. §

3716(c)(3)(B)

Railroad workers' unemployment insurance benefits

45 U.S.C. § 352(e)

PERSONAL PROPERTY

Personal property exempted from levy for collection of federal taxes.

26 U.S.C. § 6334

Property of organizations designated by the President of the United States as being entitled to the privileges, exemptions, and immunities provided by the International Organizations Immunities Act (22 U.S.C. §§ 288, et seq.).

28 U.S.C. §§ 1609-1611

MISCELLANEOUS

Credits given to members of the Klamath Indian tribes in Oregon by the Secretary of the Interior.

25 U.S.C. §§ 543, 545

Money accruing from any lease or sale of lands held in trust by the United States for any Indian.

25 U.S.C. § 410

Homesteads purchased out of the trust or restricted funds of individual Indians from taxation and title to such homesteads shall be held subject to restrictions against alienation or encumbrance except with the approval of the Secretary of the Interior.

25 U.S.C. § 412a

Debts incurred by a seaman while on a voyage.

46 U.S.C. § 11111

The following is a Link to the United States Bankruptcy Court District of Arizona's Pamphlet regarding bankruptcy exemptions: http://www.azb.uscourts.gov/sites/default/files/Arizona_Exemptions.pdf

 

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