California Bankruptcy Exemption Calculator
Google Sheets Template
Cloud-based calculator you can customize, share, and collaborate on
Compare System 1 vs System 2 • Track Wildcard Usage • Generate Reports
🚀 Quick Start Options
Option 1: Copy our pre-built template (recommended for most users)
📋 Copy Template to Your Google DriveOption 2: Build your own using our step-by-step instructions below
📖 View InstructionsTemplate Preview
| A | B | C | D | E | F | G |
| 1 | California Bankruptcy Exemption Calculator | |||||
| 2 | County Type: | High-Cost | Homestead Limit: | =$722,507 | ||
| 3 | ||||||
| 4 | Asset Category | Your Value | System 1 Protection | System 2 Protection | Better System | Difference |
| 5 | Home Equity | $500,000 | =MIN(C5,E$2) | =MIN(C5,36750)+Wildcard | =IF(D5>E5,"System 1","System 2") | =ABS(D5-E5) |
| 6 | Primary Vehicle | $25,000 | =MIN(C6,8625) | =MIN(C6,8625) | =IF(D6>E6,"System 1","System 2") | =ABS(D6-E6) |
| 7 | Work Tools | $15,000 | =MIN(C7,10950) | =MIN(C7,10950) | =IF(D7>E7,"System 1","System 2") | =ABS(D7-E7) |
| 8 | Bank Accounts | $12,000 | =MIN(C8,2170) | =Wildcard_Allocation | =IF(D8>E8,"System 1","System 2") | =ABS(D8-E8) |
| 15 | TOTAL PROTECTION | =SUM(C5:C14) | =SUM(D514) | =SUM(E5:E14) | =IF(D15>E15,"System 1","System 2") | =ABS(D15-E15) |
📋 Step-by-Step Setup Instructions
Step 1: Create New Google Sheet
1. Go to sheets.google.com
2. Click "+ Blank" to create a new spreadsheet
3. Rename it to "California Bankruptcy Exemption Calculator"
Step 2: Set Up Header Section (Rows 1-3)
Cell A1: "California Bankruptcy Exemption Calculator"
Cell A2: "County Type:"
Cell B2: Create dropdown with: High-Cost, Medium-Cost, Low-Cost
Cell D2: "Homestead Limit:"
Cell E2: Formula: =IF(B2="High-Cost",722507,IF(B2="Medium-Cost",541880,361076))
Creating the County Dropdown:
1. Select cell B2
2. Go to Data → Data validation
3. Criteria: List of items
4. Enter: High-Cost, Medium-Cost, Low-Cost
5. Check "Show dropdown list in cell"
Step 3: Create Asset Input Table (Rows 4-14)
Row 4 Headers:
B4: Your Value
C4: System 1 Protection
D4: System 2 Protection
E4: Better System
F4: Difference
Asset Categories (Column A, Rows 5-14):
A6: Primary Vehicle
A7: Secondary Vehicle
A8: Work Tools
A9: Jewelry & Collectibles
A10: Household Furnishings
A11: Bank Accounts
A12: Life Insurance
A13: Other Assets
A14: (Blank for additional items)
Step 4: Add System 1 Protection Formulas (Column C)
C6: =MIN(B6,8625) // Primary vehicle
C7: =0 // Secondary vehicle (not protected in System 1)
C8: =MIN(B8,10950) // Work tools
C9: =MIN(B9,10950) // Jewelry
C10: =MIN(B10,8625) // Household items
C11: =MIN(B11,2170) // Bank accounts
C12: =MIN(B12,13950) // Life insurance
C13: =0 // Other assets (no specific exemption)
🔢 Advanced Formulas & Wildcard Logic
Wildcard Calculation Setup
The System 2 wildcard exemption is complex because it dynamically allocates protection. We'll create a separate calculation area:
Wildcard Calculation Area (Rows 17-25):
A18: Base Wildcard Available
B18: =1950+MA0,36750-MIN(B5,36750))
A19: Unprotected Assets Needing Wildcard
A20: Secondary Vehicle Unprotected
B20: =MA0,B7-0)
A21: Bank Accounts Unprotected
B21: =MA0,B11-0)
A22: Other Assets Unprotected
B22: =MA0,B13-0)
A23: Additional Jewelry Unprotected
B23: =MA0,B9-2150)
A24: Additional Home Unprotected
B24: =MA0,B5-36750)
System 2 Protection Formulas (Column D)
D6: =MIN(B6,8625) // Primary vehicle
D7: =MIN(B7,WildcardAvailable) // Secondary vehicle using wildcard
D8: =MIN(B8,10950) // Work tools
D9: =MIN(B9,2150)+WildcardForJewelry // Jewelry with wildcard
D10: =MIN(B10,10875) // Household items
D11: =WildcardForBank // Bank accounts using wildcard
D12: =MIN(B12,16125) // Life insurance
D13: =WildcardForOther // Other assets using wildcard
Note: The wildcard allocation requires complex logic. For a simplified version, you can use a manual allocation approach where users specify how to distribute the wildcard amount.
Comparison Formulas (Columns E & F)
F5: =ABS(C5-D5)
// Copy these formulas down to rows 6-13
Total Calculations (Row 15)
B15: =SUM(B5:B13) // Total asset value
C15: =SUM(C5:C13) // Total System 1 protection
D15: =SUM(D513) // Total System 2 protection
E15: =IF(C15>D15,"System 1 Better",IF(D15>C15,"System 2 Better","Equal"))
F15: =ABS(C15-D15) // Difference amount
🚀 Advanced Features to Add
🎨 Conditional Formatting
Highlight better protection:
• System 1 wins: Green background
• System 2 wins: Blue background
• Equal protection: Yellow background
Setup: Format → Conditional formatting → Custom formula
=E5="System 2" → Blue
=E5="Equal" → Yellow
📊 Charts & Visualization
Add these charts:
• Pie chart of asset distribution
• Bar chart comparing total protection
• Gauge chart showing protection percentage
Create: Insert → Chart → Choose type
📋 Data Validation
Protect against errors:
• Asset values must be positive numbers
• County dropdown with valid options
• Warning for unrealistic values
Setup: Data → Data validation → Number range
📝 Notes & Documentation
Add helpful context:
• Cell comments explaining calculations
• Separate "Instructions" sheet
• Glossary of bankruptcy terms
Add: Right-click cell → Insert note
🔄 Scenario Planning
Multiple scenario support:
• Create sheets for different situations
• "What-if" analysis with varying values
• Compare before/after strategic changes
Create: Right-click sheet tab → Duplicate
📧 Automated Reporting
Generate summaries:
• Email reports via Google Apps Script
• PDF export of results
• Scheduled calculation updates
Setup: Extensions → Apps Script
⚠️ Important Legal Disclaimer
This template is for educational purposes only. Bankruptcy law is complex, and this calculator provides simplified estimates. Always consult with a qualified bankruptcy attorney before making legal decisions.
