Mark D. Dunn Lawyer Attorney lawyer Texas divorce family law Dallas County Collin Denton Modify Modification Visitation Conservatorship Custody Child Support Enforcement Paternity Lawsuit

Federal Exemptions

Texas (State) Exemptions

Residence
(Homestead)
and Burial Plots

Single

Joint

Single

Family

$18,450

$36,900

10 / 100 acres

10 / 200 acres

Property location is irrelevant

Exemption calculation is based on equity amount - market value less all mortgages, liens and other encumbrances

Property value is unlimited - property can be worth millions of dollars

Land and mobile homes

Land and and mobile homes (mobile homes allowed only if attached to the land - not on wheels)

Debtor must use the property as a residence on order to get the exemption

Debtor need not reside on property; temporary renting or absence does not defeat the exemption

Includes property owned by the debtor or a dependent

Limited to property owned by the debtor

Wildcard

Up to $10,225

Up to $20,450

$0

$0

$925 plus up to half of the unused homestead exemption; the exemption is less than the maximum if more than half the residence exemption is used

No similar blanket exemption exists under Texas state law; all cash and investments (unless in a retirement account) or other property not otherwise exempt is not protected, and can be seized by the trustee

Motor Vehicles

$2,950

$5,900

$30,000

$60,000

The exemption is limited to $2,950 for each debtor in a joint case; you can't apply more than $2,950 to any one vehicle in a joint case

One 2-, 3-, or 4-wheeled motor vehicle for each family member who holds a driver's license or who relies on another person to operate the vehicle

Household Furnishings and Personal Effects

$9,850

$19,700

$30,000

$60,000

Cumulative limits include the total amounts claimed for clothing and animals

Cumulative limits include the total amounts claimed for: (1) motor vehicles; (2) household furnishings; (3) wearing apparel; (4) jewelry; (5) tools of the trade; (6) farm and ranch vehicles and implements; (7) firearms; (8) athletic and sporting equipment; (9) animals; (10) unpaid commissions.

The exemption applies to: household furnishings, household goods, appliances, books, crops, or musical instruments

The exemption applies only to household furnishings, not household goods, appliances, books, crops or musical instruments; includes "family heirlooms" (a term not defined by statue or case law)

Limited to property held for personal, family or household use

No personal, family or household use limitation

Limited to $475 for any single item

No value limitation on individual items

Includes property owned by the debtor or his dependent

Limited to property owned by the debtor

Wearing Apparel

$9,300

$18,600

$30,000

$60,000

Cumulative limits include the total amounts claimed for household furnishings, personal effects and animals

Cumulative limits include the total amounts claimed for: (1) motor vehicles; (2) household furnishings; (3) wearing apparel; (4) jewelry; (5) tools of the trade; (6) farm and ranch vehicles and implements; (7) firearms; (8) athletic and sporting equipment; (9) animals; (10) unpaid commissions.

Includes property owned by the debtor or dependent

Limited to property owned by the debtor

Applies only to property held for personal, family or household use

No personal, family or household use limitation

Jewelry

$1,225

$2,450

$7,500

$15,000

Includes property owned by the debtor or dependent

Limited to property owned by the debtor himself

Applies only to property held for personal, family or household use

No "personal, family or household use" limitation

Tools of a Trade

$1,850

$3,700

$30,000

$60,000

Cumulative limits include the total amounts claimed for household furnishings, personal effects and animals

Cumulative limits include the total amounts claimed for: (1) motor vehicles; (2) household furnishings; (3) wearing apparel; (4) jewelry; (5) tools of the trade; (6) farm and ranch vehicles and implements; (7) firearms; (8) athletic and sporting equipment; (9) animals; (10) unpaid commissions.

Includes implements, professional books and tools

Includes tools, equipment, books and apparatus

Includes property owned by the debtor or his dependent

Limited to property owned by the debtor

Farming or Ranching Vehicles and Implements

$0

$0

$30,000

$60,000

No separate exemption; but part of "tools of a trade"

Cumulative limits include the total amounts claimed for: (1) motor vehicles; (2) household furnishings; (3) wearing apparel; (4) jewelry; (5) tools of the trade; (6) farm & ranch vehicles and implements; (7) firearms; (8) athletic and sporting equipment; (9) animals; (10) unpaid commissions.

No limit on number or type of items

Firearms

$0

$0

$30,000

$60,000

No separate exemption; only allowed as part of wildcard

Cumulative limits include the total amounts claimed for: (1) motor vehicles; (2) household furnishings; (3) wearing apparel; (4) jewelry; (5) tools of the trade; (6) farm and ranch vehicles and implements; (7) firearms; (8) athletic and sporting equipment; (9) animals; (10) unpaid commissions.

Limit of two firearms; no specification on type

Athletic and Sporting Equipment

$0

$0

$30,000

$60,000

No separate exemption; only allowed as part of wildcard

Cumulative limits include the total amounts claimed for: (1) motor vehicles; (2) household furnishings; (3) wearing apparel; (4) jewelry; (5) tools of the trade; (6) farm and ranch vehicles and implements; (7) firearms; (8) athletic and sporting equipment; (9) animals; (10) unpaid commissions.

Applies to athletic and sporting equipment, including bicycles

Animals and Food For Their Consumption

$9,300

$18,600

$30,000

$60,000

Cumulative limits include the total amounts claimed for household furnishings, personal effects and animals

Cumulative limits include the total amounts claimed for: (1) motor vehicles; (2) household furnishings; (3) wearing apparel; (4) jewelry; (5) tools of the trade; (6) farm and ranch vehicles and implements; (7) firearms; (8) athletic and sporting equipment; (9) animals; (10) unpaid commissions.

No limit on number or type of individual items

Limited to: (1) two horses, mules, or donkeys and saddle, blanket, and bridle for each; (2) 12 head of cattle;(3) 60 head of other types of livestock; (4) 120 fowl; (5) all household pets

Commissions

$0

$0

$7,500

$15,000

No separate exemption; only allowed as part of wildcard

Limited to unpaid commissions for personal services

Wages

0

0

Unlimited

Unlimited

No separate exemption; allowed onlny as part of the wildcard         

Applies to current wages for personal services except for court-ordered child support

Professionally Prescribed Health Aids

Unlimited

Unlimited

Unlimited

unlimited

Applies to property belonging to the debtor or any dependent of the debtor

Alimony and Child Support Payments

Unlimited

Unlimited

Unlimited

Unlimited

Applies to property belonging to the debtor or any dependant of the debtor

Exempt only to the extent reasonably necessary for the support of the debtor and his dependents

The exemption is not limited to funds necessary for reasonable support of the debtor and his dependents

Pension, Profit-sharing, and Retirement Plans

Unlimited

Unlimited

unlimited

Unlimited

The exemption applies only to plans that qualify under section 401(a), 403(a), 403(b), or 408 of the Internal Revenue Code

Contributions to IRA’s, Roth IRA's, or annuities that exceed the deductible limits under the Internal Revenue Code are not exempt

Exempt only to the extent reasonably necessary for the support of the debtor and any dependent of the debtor

The exemption is not limited to funds necessary for reasonable support of the debtor and his dependents

The assets of most pension and retirement plans cannot be taken from a debtor because they are not considered part of the "bankruptcy estate."  Under the U.S. Supreme Court decision in Patterson v. Shumate, all pension plans and trusts are excluded from the bankruptcy estate if the plan or trust has a provision which prevents the proceeds from being transferred or assigned and the provision is enforceable under federal or state law.  Virtually all plans have such a provision; therefore, the exemption rules relating to pension plans are pretty much irrelevant.

Cash Surrender Value of Life Insurance Policies

$9,850

$19,700

Unlimited

Unlimited

Applies to policies under which the insured is the debtor or a dependent of the debtor

Includes cash values to be paid to the insured or any beneficiary

Insurance and Annuity Contract Proceeds

Unlimited

Unlimited

Unlimited
(Ins. Code. 1108.051)

Unlimited
(Ins. Code. 1108.051)

Life insurance proceeds only

Includes all insurance contracts, including annuities & structured settlements used to finance personal injury recoveries

Exempt only to the extent reasonably necessary for the support of the debtor and any dependent of the debtor

The exemption is not limited to funds necessary for reasonable support of the debtor and his dependents

Social Security, Unemployment, Disability, and Veterans' Benefits

Unlimited

Unlimited

Unlimited

Unlimited

The exemption is not limited to funds necessary for reasonable support of the debtor and his dependents

Death Awards and Survivor Benefits

Unlimited

Unlimited

Unlimited

Unlimited

Applies to all payments traceable to a wrongful death award attributable to the deaths of persons of whom the debtor was a dependent

Limited to death and survivor benefits received by dependents of military personnel and U.S. Government employees, longshoremen, and harbor workers

Exempt only to the extent reasonably necessary for the support of the debtor and any his dependents

Exemption not limited to funds necessary for reasonable support of the debtor his dependents

Personal Injury Recoveries

$17,425

$34,850

$0

$0

Limited to compensation for personal bodily injury only (doesn't include "pain and suffering" damages); includes awards made to dependents

No exemption except for annuities purchased as structured settlement of personal injury claims

Future Earnings Compensation

Unlimited

Unlimited

$0

$0

Applies to payments in compensation of loss of future earnings

No exemption under Texas state law

Exempt only to the extent reasonably necessary for the support of the debtor and his dependents

Exempt only to the extent reasonably necessary for the support of the debtor and any dependent of the debtor

The $7,500/$15,000 limit for jewelry and unpaid commissions must be included within the $30,000/$60,000 maximum limits for other personal property.  In other words, you must include jewelry and unpaid commissions when calculating the total amount of the allowable exemptions under the $30,000/$60,000 limits.