|
ASSET
|
EXEMPTION DESCRIPTION
|
LAW SECTION
|
|
HOMESTEAD
|
Real or personal property including a farm, lot and
building, condo, co-op or mobile home to $7,500; sale proceeds exempt 1
year from sale
|
735-5/12-901, 735-5/12-906
|
| |
Homestead exemption after death or desertion of one spouse for benefit
of remaining spouse and/or minor children - (Limit 7,500/7,500)
|
735-5/12-902
|
| |
Husband and wife may double
|
First National Bank
v Mohr 515 N.E. 2d 1356 (App. Ct. Ill. 1998) |
|
PERSONAL PROPERTY
|
Bible, family pictures, schoolbooks and needed
clothing
|
735-5/12-1001(a)
|
| |
Health aids
|
735-5/12-1001(e)
|
| |
Motor vehicle to $1,200
|
735-5/121001(c)
|
| |
Personal injury recoveries to $7500
|
735-5/12-1001(g)(4)
|
| |
Proceeds of sold exempt property
|
735-5/12-1001
|
| |
Title certificate for boat over 12 feet
|
652-45/3A-7
|
| |
Wrongful death recoveries needed for support
|
735-5/12-1001(h)(2)
|
|
INSURANCE
|
Fraternal benefit society benefits
|
215-5/299.1a
|
| |
Health or disability benefits
|
735-5/12-1001(g)(3)
|
| |
Homeowners’ proceeds if home destroyed, to $7,500
|
735-5/12-907
|
| |
Life insurance, annuity proceeds or cash value if
beneficiary is insured’s child, parent, spouse or other dependent
|
215-5/238
|
| |
Life insurance policy if beneficiary is insured’s
spouse or chil
|
735-5/12-1001(f)
|
| |
Life insurance proceeds if clause prohibits from being
used to pay beneficiary’s creditors
|
215-5/238
|
| |
Life insurance proceeds needed for support
|
735-5/12-1001(f), (g)(3)
|
|
MISC.
|
Alimony, child support needed for support
|
735-5/12-1001(g)(4)
|
| |
Property of business partnership
|
805-205/25
|
|
PENSIONS
|
Civil service employees
|
40-5/11-223
|
| |
County employees
|
40-5/9-228
|
| |
Disabled firefighters; widows and children fo
firefighters
|
40-5/22-230
|
| |
ERISA-qualified benefits
|
735-5/12-1006
|
| |
Firefighters
|
40-5/4-135, 40-5/6-213
|
| |
General assembly members
|
40-5/2-154
|
| |
House of correction employees
|
40-5/19-117
|
| |
Judges
|
40-5/18-161
|
| |
Municipal employees
|
40-5/7-217(a), 40-5/8-224
|
| |
Park employees
|
40-5/12-190
|
| |
Police officers
|
40-5/3-144.1, 40-5/5-218
|
| |
Public employees
|
735-5/12-1006
|
| |
Public library employees
|
40-5/19-218
|
| |
Sanitation district employees
|
40-5/13-808
|
| |
State employees
|
40-5/14-147
|
| |
State university employees
|
40-5/15-185
|
| |
Teachers
|
40-5/16-190, 40-5/17-151
|
|
PUBLIC BENEFITS
|
Aid to aged, blind, disabled, AFDC
|
305-5/11-3
|
| |
Crime victims’ compensation
|
735-5/12-1001(h)(1)
|
| |
Restitution payments on account of WWII relocation of
Aleuts and Japanese Americans
|
735-5/12-1001(12)(h)(5)
|
| |
Social security
|
735-5/12-1001(g)(1)
|
| |
Unemployment compensation
|
735-5/12-1001(g)(1), (3)
|
| |
Veterans’ benefits
|
735-5/12-1001(g)(2)
|
| |
Workers’ compensation
|
820-305/21
|
| |
Workers’ occupational disease compensation
|
820-310/21
|
|
TOOLS OF TRADE
|
Implements, books and tools of trade to $750
|
735-5/12-1001(d)
|
|
WAGES
|
Minimum 85% of earned but unpaid wages; bankruptcy
judge may authorize more for low-income debtors
|
740-170/4
|
|
WILD CARD
|
$2,000 of any personal property
|
735-5/12-1001(b)
|
| |
Includes wages
|
In re Johnson,
57 B.R. 635 (N.D. ILL 1986)
|
