Listing exemptions

[rjmwx81]

I'm using the Federal exemptions, and since I don't own a house I'm using the "unused homestead" exemption to protect some assets. My question is, how exactly do I cite that on the schedule? Do I list it as 522(d)(1) (the actual homestead exemption), 522(d)(5) (the wildcard), or both,to show that I'm using 522(d)(1) as allowed by 522(d)(5)?

[justbroke]

For your specific questions, you'd list 522(d)(5) since that is the statute that actually grants you the right to utilize the unused homestead exemption. It's not 522(d)(1) -- if you read 522(d)(1) you'll read that it does not allow you to use it for "any" item. It's 522(d)(5) that gives you that ability.

[rjmwx81]

Excellent, thanks.

[justbroke]

If you're ever unsure and pro se, it could be helpful to list all statutes that you think apply. You do need to keep track of how much of each exemption you have claimed, so that you aren't attacked by the Panel Trustee. The Panel Trustee will be verifying those exemptions to make sure that you haven't exhausted any single exemption. If you do overuse an exemption (statute), the Trustee is likely to ask you to amend (best case) or to surrender the property for liquidation (worse case).

How one uses exemptions is a legal strategy and you won't get help from the Clerk's or Trustee's office on which ones to use or "how" to use them. I usually don't get specific either, but you had already listed the exemptions. I don't want someone coming back (myself) and saying "justbroke" told me to use 11 USC 522(d)(XXX) and now the Trustee wants my car.

[rjmwx81]

No worries there, I'm going to be well under the threshold for the exemptions anyway, just wanted to be sure how to list them.