For anyone in AZ that hasn't filed yet, there are recent changes to the AZ Exemptions that were just recently signed by the governor.
(this is on the site of one of the AZ CH13 trustees)
Primary changes I noticed....
- Household furniture, furnishings, and appliances goes from $4k to $6k (they also got rid of the verbiage for alot of the specifics, ie how many couches you can have, how many beds, ..... and it seems to primarily depend on value now.)
- Exempt money in a bank account goes from $150 to $300
- Musical instruments from $250 to $400
- Pets from $200 to $500
- Wedding/engagement rings from $1k to $2k
- Watch from $100 to $150
- Computer/bicycle/sewing machine/bible/burial plot/guns from $500 to $1k
- Motor vehicle from $5k to $6k (equity from $10k to $12k)
- Tools of the trade from $2500 to $5000
- Prepaid Rent / Security deposit ( if not using homestead) from $1k to $2k
There are a number of other changes as well, all amendments are shown in the link.
All changes appear to be for the better, either increases in exemption amounts or changes in definitions that are better for the debtor (unless I am missing something).
(this is on the site of one of the AZ CH13 trustees)
Primary changes I noticed....
- Household furniture, furnishings, and appliances goes from $4k to $6k (they also got rid of the verbiage for alot of the specifics, ie how many couches you can have, how many beds, ..... and it seems to primarily depend on value now.)
- Exempt money in a bank account goes from $150 to $300
- Musical instruments from $250 to $400
- Pets from $200 to $500
- Wedding/engagement rings from $1k to $2k
- Watch from $100 to $150
- Computer/bicycle/sewing machine/bible/burial plot/guns from $500 to $1k
- Motor vehicle from $5k to $6k (equity from $10k to $12k)
- Tools of the trade from $2500 to $5000
- Prepaid Rent / Security deposit ( if not using homestead) from $1k to $2k
There are a number of other changes as well, all amendments are shown in the link.
All changes appear to be for the better, either increases in exemption amounts or changes in definitions that are better for the debtor (unless I am missing something).
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