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New York Bankruptcy Exemptions

UPDATED: March 9, 2020

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Federal bankruptcy exemptions available? NO

The New York state bankruptcy exemptions are found in several different statutes. New York Civil Practice Law and Rules is abbreviated CPLR in the chart below.


United States Bankruptcy Court, Eastern District of New York

United States Bankruptcy Court, Northern District of New York

United States Bankruptcy Court, Western District of New York

New York Bankruptcy Attorneys

New York Bankruptcy Exemptions
Assets Exemption State Statutes
Homestead Real property, condo, co-op, or mobile home: up to $50,000.
Insurance Life insurance proceeds left at death in trust (or some other agreement) with the insurance company: all if the policy has a clause forbidding the proceeds to be used to pay creditors of the beneficiary. Estates, Powers, and Trusts 7-1.5(a)(2)
Life insurance proceeds/avails: all if the debtor is not the beneficiary or if the policy was taken out by the debtor’s spouse. Insurance 3212(b)
Illness or disability benefits: up to $400 a month. Insurance 3212(c)
Annuity contract benefits from a contract purchased by the debtor: up to $5000 if the contract was purchased within the 6 months before filing for bankruptcy and if the annuity is not tax-deferred. Insurance 3212(d); Debtor and Creditor 283(1)
Miscellaneous Child support and alimony: all. CVP 5205(d)(3); Debtor and Creditor 282(2)(d)
Property owned by business partnership. Partnership 51
Pensions Federal pension exemptions (see federal exemptions).
IRAs, Roth IRAs, and ERISA-qualified benefits: all necessary for support. CVP 5205(c); Debtor and Creditor 282(2)(e)
Teacher pensions: all. Education 524
Public retirement benefits: all. Insurance 4607
State employee pensions: all. Retirement and Social Security 10
Volunteer ambulance worker benefits: all. Volunteer Ambulance Worker Benefits 23
Volunteer firefighter benefits: all. Volunteer Firefighter Benefits 23
Personal Property Stoves with fuel for 120 days; 1 sewing machine; family bible, family pictures, school books used by family; books up to $50; seat or pew in place of worship; domestic animals with food for 120 days ($1,000 total for animals and food); food for family for 120 days; clothing, household furnishings; 1 refrigerator; 1 radio; 1 television, dishes and utensils for cooking and eating; 1 wedding ring. All of these personal property exemptions plus tools of your trade, and some annuities: up to $3,000 total. CVP 5205(a)(1)-(6); Debtor and Creditor 283(1)
Payment for damage to exempt property: all for up to 1 year after receipt. CVP 5205(b)
Spendthrift trust principal: 90% of income if the trust was not created by the debtor. CVP 5205(c), (d)
Burial plot without a structure: up to ¼ acre. CVP 5206(f)
Security deposits (residential and utility): all. CVP 5205(g)
Health aids, including service animals and their food: all. CVP 5205(h)
College tuition trust fund: all. CVP 5205(j)
Motor vehicle: up to $4,000. Debtor and Creditor 282(1)
Recovery for wrongful death for person debtor depended on: all. Debtor and Creditor 282(3)(ii)
Recovery for personal injury: all for 1 year after it is received. Debtor and Creditor 282(3)(iii)
Recoveries for lost future earnings: all necessary for support. Debtor and Creditor 282(3)(iv)
Cash, defined to include bonds, deposits, and tax refunds Debtor and Creditor 283(2)
Public Benefits Local public assistance and home relief: all. Debtor and Creditor 282(2)(a)
Social Security benefits: all. Debtor and Creditor 282(2)(a)
Unemployment compensation benefits: all. Debtor and Creditor 282(2)(a)
Veterans' benefits: all. Debtor and Creditor 282(2)(b)
Aid for blind, disable, or aged persons: all. Debtor and Creditor 282(2)(c)
Workers’ compensation benefits: all. Debtor and Creditor 282(2)(c); Workers' Comp. 33.218
Crime victim compensation: all. Debtor and Creditor 282(3)(i)
Tools of Your Trade Farm machinery, team, and food for team for 60 days, and furniture, books, tools, and implements needed for profession: up to $3,000 total. CVP 5205(a)(7)
For member of military, uniforms, medal, emblem, equipment, horse, arms, and sword: all. CVP 5205(e)
Wages Wages, earned but unpaid and received 60 days before filing for bankruptcy or any time after: 90%. CVP 5205(d)
Wages of noncommissioned officer, officer, private, or musician in U.S. or N.Y. state armed forces: 100%. CVP 5205(e)
Earnings of dairy farmer from sale to milk dealers: 90%. CVP 5205(f)
Wildcard No exemption.

Click here to read an Introduction to Bankruptcy Exemptions.

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