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CA system 2 wildcard and bank accounts

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    CA system 2 wildcard and bank accounts

    Hi,
    I'm seeking to confirm that savings and checking account balances CAN, in fact be exempted through the use of California's Plan 2 "wildcard" exemption which,
    when combined with the unused portion (in my case all) of the $20,725.00 "Homestead" exemption, amounts to $21,825.00.
    Pretty good deal for an apartment renter w/ no Homestead interests.
    It appears that, at the time of filing, my combined savings/checking accounts will be approx. $4,000.00 and I really need to know that this money can be protected/exempted by this exemption.
    Thanks, best wishes and best of luck!

    #2
    You betcha....anything you want to exempt thats what a wildcard is for. Hey anything that you dont use, can I have the rest? lol

    Comment


      #3
      Thanks!
      If only I could share the leftovers, I'd be delighted!
      I wish I had MORE to claim under this surprisingly
      generous exemption!
      I'm way below the limit in every single category,
      not to mention the $47,xxx.00 yearly income for
      the means test!!!

      Comment


        #4
        One other question regarding the aforementioned CA System 2 wildcard exemption:
        Can the debtor combine several different properties/assets as long as their combined value is within the combined unused Homestead + wildcard allowance ($21,850.00)?
        For example: Savings Acct: $3000.00 + Checking Acct. $1000.00 + other
        miscellaneous items ($xxx.xx) not claimed/exempted under the other exemption
        categories.
        OR
        Is one limited to a single "one-shot" single item exemption?
        Thanks, best wishes and best of luck to all!

        Comment


          #5
          Filed Ch. 7 Pro Se: 12/11/08
          341 Meeting: 1/7/09
          Trustee's Report of No Distribution: 1/9/09
          Discharged: 3/10/09

          Comment


            #6
            Thanks so much!
            That's what I figured, but as I prepare to file (Pro Se) next month I am obsessively committed to checking, re-checking, and re-checking again,
            every single thing with the goal of submitting an immaculate petition.
            In so doing, I would hope to eliminate all preventable issues on the "local"
            level (trustee etc.) thereby leaving only the inevitably unpredictable real
            "wildcard" of creditor objection(s), which, if they should arise (heaven forbid),
            I am, at this juncture, much inclined to rebut.
            Thanks again, best wishes and best of luck!

            Comment

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