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California Bankruptcy Exemptions
Debtors may choose either the “703” or “704” exemption classification — not both, and not mixed. Married debtors filing separately must still choose one classification jointly.
California is an opt-out state — the federal bankruptcy exemptions cannot be used. Debtors choose between the 703 exemptions (often paired with the wildcard) and the 704 exemptions (larger homestead, no separate wildcard). Most CCP 703.140 dollar amounts adjust every 3 years (most recently April 1, 2025 — reflected below); the CCP 704.730 homestead adjusts annually based on county median home price; and some CCP 704 bank-account figures adjust on a separate July 1 cycle. Figures marked “confirm current” below were not independently verified against the California Courts’ official current-amounts publication this session — check there before filing.
| “703” Exemptions — CCP § 703.140(b) | ||
| Asset | Exemption | Law Provision |
|---|---|---|
| Homestead | Equity in real or personal property actually used as residence, up to $36,750 (current for cases filed April 1, 2025 – March 31, 2028; previously $29,275) | CCP 703.140(b)(1) |
| Motor Vehicles | Equity in one or more motor vehicles, up to $8,625 (current 2025–2028 figure; previously $7,500) | CCP 703.140(b)(2) |
| Furnishings, Clothing, Goods, Etc. | Household goods, wearing apparel, appliances, books, animals, crops, or musical instruments held for personal, family or household use, up to approximately $1,075 per item (current 2025–2028 figure; previously $800 — confirm exact current per-item and aggregate cap) | CCP 703.140(b)(3) |
| Jewelry | Personal or family jewelry, up to approximately $2,150–$2,175 (current 2025–2028 figure; previously $1,900 — confirm exact current amount) | CCP 703.140(b)(4) |
| Wild Card | Approximately $1,950 equity, plus any unused portion of the homestead exemption, in any property (up to roughly $38,700 combined if no 703 homestead is claimed; current 2025–2028 figures, previously $1,550/$30,825) | CCP 703.140(b)(5) |
| Tools of Trade | Equity in tools of trade, books or implements, up to approximately $10,950 (current 2025–2028 figure; previously $9,525) | CCP 703.140(b)(6) |
| Life Insurance Contract | Any life insurance contract owned by debtor, no limit | CCP 703.140(b)(7) |
| Life Insurance Cash Value | Value up to approximately $16,125 (current 2025–2028 figure; previously $17,075 — confirm exact current amount) | CCP 703.140(b)(8) |
| Health Aids | Professionally prescribed health aids, and vehicles converted for the disabled debtor, spouse or dependent, no limit | CCP 703.140(b)(9) |
| Employee Benefits | Vacation credits, or accrued/unused vacation pay, sick leave, or wages; confirm current dollar figure — previously $7,500 | CCP 703.140(b)(10)(F) |
| Personal Injury Compensation | Crime victim’s award, no limit | CCP 703.140(b)(11)(A) |
| Employment Settlements | Money from settlement agreements arising from employment, to extent necessary for support, no limit | CCP 703.140(b)(11)(B) |
| Wrongful Death Payment | If debtor was dependent of decedent, to extent necessary for support, no limit | CCP 703.140(b)(11)(C) |
| Benefits | Social security, unemployment, public assistance, veterans’, disability, or illness benefits, no limit | CCP 703.140(b)(10)(A)-(C) |
| Benefits | Alimony, support or maintenance, to extent necessary for support, no limit | CCP 703.140(b)(10)(D) |
| Benefits | Stock bonus, pension, profit sharing, or annuity payments on account of illness, disability, death, age, or length of service, to extent necessary for support | CCP 703.140(b)(10)(E) |
| Personal Injury Compensation | Life insurance payment, if debtor was spouse/dependent of decedent, to extent necessary for support | CCP 703.140(b)(11)(D) |
| Personal Injury Compensation | Payment of personal injury claim for bodily injury to debtor/spouse/dependent; confirm current dollar figure — previously $31,950 | CCP 703.140(b)(11)(E) |
| Personal Injury Compensation | Payment for loss of future earnings, to extent necessary for support, no limit | CCP 703.140(b)(11)(F) |
| Golden State Scholarshare Trust | Exemption based on each account beneficiary; contribution-timing limit adjusts annually per the federal gift tax exclusion under IRC §2503(b) — confirm current year’s figure | CCP 703.140(b)(12) |
| Educational IRA / State 529 Plan | Contributed 365+ days before filing, beneficiary is child/step-child/grandchild/step-grandchild; contribution-window dollar limits adjust periodically — confirm current figures; no limit for funds contributed 720+ days before filing | IRC 530(b)(1), 529(b)(1) |
| “704” Exemptions — CCP § 704 et seq. | ||
| Asset | Exemption | Law Provision |
|---|---|---|
| Homestead | (1) The median sales price of single-family homes in the same county for the prior calendar year, subject to a floor and cap that adjust annually for inflation, or (2) the statutory floor — whichever is greater. For 2026, published estimates place this range at roughly $371,000 to $743,681 depending on county; confirm the exact current figure for the filer’s county via the California Courts website (previously cited as $348,500–$697,000 for 2023). | CCP 704.730 |
| Motor Vehicles | Up to approximately $8,625 equity in one or more vehicles (current 2025–2028 figure; previously $7,500); proceeds of forced sale or insurance for loss/damage | CCP 704.010 |
| Household Goods & Clothing | Furnishings, appliances, food, clothes, personal effects reasonably necessary at principal residence, no limit | CCP 704.020 |
| Residence Improvement Materials | Up to approximately $4,400 for materials to repair or improve the residence (current 2025–2028 figure; previously $3,825) | CCP 704.030 |
| Jewelry, Heirlooms, Art | Up to approximately $10,950 total equity (current 2025–2028 figure; previously $9,525) | CCP 704.040 |
| Health Aids | Reasonably necessary to work or sustain health of debtor or dependents, no limit | CCP 704.050 |
| Tools of Trade | Total equity in tools, implements, materials, uniforms, furnishings, books, equipment, one commercial vehicle, one vessel, up to approximately $10,950 base (current 2025–2028 figure; previously $9,525); sub-limits for a same-business couple and the commercial-vehicle portion have also increased proportionally — confirm exact current figures | CCP 704.060 |
| Deposit Account – Social Security Benefits | Bank account exemption for Social Security direct deposits; confirm current dollar figures (may adjust on a separate July 1 cycle) — previously $3,825 (single payee) / $5,725 (two or more payees) | CCP 704.080(b)(2),(4) |
| Deposit Account – Traceable Benefits | All money from social security or public benefits remaining in the account, no limits | CCP 704.080(c) |
| Deposits of Incarcerated Debtor | Inmate trust funds if not subject to restitution order; confirm current dollar figure — previously $1,900 | CCP 704.090 |
| Life Insurance Policies | Total loan value of unmatured policies (double if married); confirm current dollar figure — previously $15,250; matured policy benefits exempt to extent reasonably necessary for support | CCP 704.100 |
| Golden State Scholarshare Trust | Exemption per beneficiary; contribution-timing limit adjusts annually per the federal gift tax exclusion under IRC §2503(b) — confirm current year’s figure | CCP 704.105 |
| Educational IRA / State 529 Plan | Same terms as under the 703 system above — confirm current contribution-window dollar limits | IRC 530(b)(1), 529(b)(1) |
| Public Retirement Benefits | State, city, county, other public agency, or US federal retirement, no limit | CCP 704.110 |
| Vacation (Employment) Credits | Vacation pay/earnings credits for a public employee; confirm current dollar figure — previously $7,500 | CCP 704.113 |
| Family Support | Alimony, support, separate maintenance, to extent reasonably necessary, no limit | CCP 704.111 |
| Private Retirement Benefits | Private retirement, union, profit-sharing, Keogh, IRA plans exempt to extent necessary for support at retirement, no stated limits | CCP 704.115 |
| Unemployment and Disability Benefits | State, employer plan, or union payments, no limit | CCP 704.120 |
| Paid Earnings | Earnings paid within 30 days of filing; 100% exempt if subject to wage garnishment/assignment for support, else 75% exempt | CCP 704.070 |
| Deposit Account – Public Benefits | Bank account exemption for public benefits (other than Social Security) direct deposits; confirm current dollar figures — previously $1,900 (single payee) / $2,825 (two or more payees) | CCP 704.080(b)(1),(3) |
| Disability or Health Insurance | Benefits under disability/health insurance, no limit | CCP 704.130 |
| Personal Injury | Cause of action fully exempt; damages/settlement exempt to extent necessary for support | CCP 704.140 |
| Wrongful Death | Cause of action fully exempt; damages/settlement exempt to extent reasonably necessary for support | CCP 704.150 |
| Workers’ Compensation | All claims and benefits, no stated limit | CCP 704.160 |
| Financial Aid | For expenses while attending institution of higher learning, no stated limit | CCP 704.190 |
| Family Cemetery Plot | A plot for debtor and debtor’s spouse | CCP 704.200 |
| Charitable Aid | Aid or benefits from charitable organization or fraternal benefit society, no stated limit | CCP 704.170 |
| Relocation Benefits | Payments for relocation after displacement from residence, no stated limit | CCP 704.180 |
| Property Not Subject to Attachment | All property not subject to enforcement of a money judgment, no limit | CCP 704.210 |
| Minimum Basic Standard | Money on deposit for basic standard of adequate care for family of four (adjusted annually) — confirm current figure; previously $2,080 | CCP 704.220 |
| Monies Necessary for Support | Money in deposit accounts, not otherwise exempt, necessary for support, no stated limit | CCP 704.225 |
| FEMA Payments | Any money paid to debtor from FEMA | CCP 704.230 |
| Accrued & Unpaid Earnings | 75% of accrued and unpaid earnings (not subject to garnishment under 15 U.S.C. 1673(a)) | CCP 706.050 |
| Additional Federal Exemptions (usable with either 703 or 704) | ||
| Asset | Exemption | Law Provision |
|---|---|---|
| Social Security Benefits | All monies paid or payable, and rights to receive Old-Age, Survivors, and Disability Insurance benefits, fully exempt | 42 U.S.C. 407(a) |
| Retirement Accounts | IRAs, 401(k), 403, 408, 414, deferred compensation, and tax-exempt employer benefit plans; maximum exemption for all IRAs is $1,711,975 (current for cases filed April 1, 2025 – March 31, 2028) | 42 U.S.C. 522(b)(3)(C) |