(i) (a)—definitions. Note that by definition, dependent includes a spouse.
(ii) (b)—property that may be exempt. Debtor can choose (1) fed scheme or (2) state scheme.
(iii) (c)—exempt property can’t be used to pay debts excepts for those listed under this section.
(iv) (d)—exemptions if debtor chooses to use federal exemptions.
(3) Household furnishings, goods, clothes, appliances, books, animals, crops, or musical instruments held for personal use
(4) Personal jewelry
(5) Wildcard—able to cover any property you want w/ certain specified amount plus any excess exemption not used under (1).
(6) Implements or tools of the trade
(7) Unmatured life insurance K owned by the debtor, other than a credit life insurance K. (death benefit)
(8) Interest in accrued dividend or interest under or loan value of any unmatured life insurance K owned by debtor under which debtor or dependent is insured—up to 9300. (cash value)
(9) Prescribed health aid
(10) Right to receive SS, vet benefit, disability or alimony/support to the extent reasonably necessary to support debtor and dependents. Also, certain pension benefit
(11) Right to receive payment from certain tort claims.
(v) (f)—certain liens on prop may be avoided if they interfere w/ exemptions. These include judicial liens, except for those that secures a child support/alimony payment, and a nonpossessory, non-purchase money liens on (i) certain personal prop, (ii) tools of the trade and (iii) professionally prescribed health aids.
(vi) (m)—stacking: the section will apply separately w/ respect to each debtor in a joint case. For example, under 522(d)(1), there is a 15k (see sheet for indexed amount) exemption for a residence. If H and W file jointly, they get a 30k exemption.
(vii) Overlap of categories: Ex. Try to say that computer is tool of trade and home furnishing to get bigger exemption for that piece of property. Little case law on this, but what little is out there seems to indicate that you can overlap.
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