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The Following are a List
of New York Exemptions:
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ASSET
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EXEMPTION DESCRIPTION
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LAW SECTION
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Homestead
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Equity in Real property including co-op, condo or mobile home,
to $50,000.
Husband & wife may double this to $100,000 in equity.
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5206(a)
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Personal Property
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Bible; schoolbooks; books to $50; pictures; clothing;
church pew or seat; stoves with fuel to last 60 days; sewing machine;
domestic animal with food to last 60 days, to $450; food to last 60
days; furniture; refrigerator; TV; radio; wedding ring; watch to $35;
crockery, cooking utensils and tableware needed, to $5000 total (with
farm machinery, etc.)
Burial plot, without structure to ¼ acre
Cash, the lesser of either $2500, or an amount that,
with annuity, totals $5000; in lieu of homestead
Health aids, including animals with food
Lost earnings recoveries needed for support
Motor vehicle to $2400
Personal injury recoveries to $7500 (not to include
pain and suffering)
Security deposits to landlord, utility company
Trust fund principal, to 90% of income
Wrongful death recoveries for person you depended on,
needed for support
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5205(1)-(6), Debtor & Creditor 283(1)
5206(f)
Debtor & Creditor 283(2)
5205(h)
Debtor & Creditor 282(3)(iv)
Debtor & Creditor 282(1)
Debtor & Creditor 282(3)(iii)
5205(g)
5205(c), (d)
Debtor & Creditor 282(3)(ii)
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Insurance
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Annuity contract benefits due or prospectively due the
debtor, who paid for the contract; if purchased within 6 months prior
& not tax-deferred, only $5000
Disability or illness benefits to $400 per month
Life insurance proceeds left at death with the
insurance company pursuant to agreement, if clause prohibits proceeds
from being used to pay beneficiarys’ creditors
Life insurance proceeds and avails if the person
effecting the policy is the spouse of the insured
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Insurance 3212(d), Debtor & Creditor 283(1)
Insurance 3212(c)
Estates, Powers & Trusts7-1.5(a)(2)
Insurance 321(b)(2)
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Miscellaneous
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Alimony, child support needed for support
Property of business partnership
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Debtor & Creditor 282(2)(d)
Partnership 51
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Pensions
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ERISA-qualified benefits needed for support, includes
IRAs
IRAs needed for support
Keoghs needed for support
Public retirement benefits
State employees
Village police officers
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Debtor & Creditor 282(2)(e), 5205(c)
Debtor & Creditor 282(2)(e), 5205(c)
Debtor & Creditor 282(2)(e), 5205(c)
Insurance 4607
Retirement & Social Security 110
Unconsolidated 5711-o
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Public Benefits
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Aid to blind, aged, disabled, AFDC
Crime victims’ compensation
Home relief, local public assistance
Social security
Unemployment compensation
Veterans’ benefits
Workers’ compensation
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Debtor &Creditor 282(2)(c)
Debtor & Creditor 282(3)(i)
Debtor & Creditor 282(2)(a)
Debtor & Creditor 282(2)(a)
Debtor & Creditor 282(2)(a)
Debtor & Creditor 282(2)(b)
Debtor & Creditor 282(2)(c)
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Tools of Trade
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Farm machinery, team, food for 60 days, professional
furniture, books & instruments to $600 total
Uniforms, medal, equipments,. Emblem, horse, arms and
sword of military member
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5205(b)
5205(e)
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Wages
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90% of earnings from milk sales to milk dealers
90% of earned but unpaid wages received within 60 days
prior (100% for a few militia members)
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5205(f)
5205(d), (e)
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Jacob Silver, Attorney At Law
- Office Address
- 1225 Franklin Avenue Suite - 325
Garden City, NY 11530
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- Telephone
- (516) 374-1452
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- Fax
- (718) 797-4141
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- Electronic mail
- General Information:
advocate@mindspring.com
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