Printing Instructions: Use legal-size paper (8.5" × 14") in landscape orientation for best results. This chart is designed for 3-hole punching and binder storage.
System 1 (CCP 704): Best for homeowners with significant equity (>$400,000)
System 2 (CCP 703): Best for renters or those with diverse valuable personal property
| Exemption Category | System 1 (CCP 704) Homeowner Focus | System 2 (CCP 703) Flexibility Focus |
|---|---|---|
| Homestead (Primary Residence) | $361,076 - $722,507 CCP 704.730(b) Based on county median home price | $36,750 CCP 703.140(b)(1) |
| Motor Vehicle | $8,625 CCP 704.010 | $8,625 CCP 703.140(b)(2) |
| Household Furnishings & Goods | $8,625 total CCP 704.020 | $1,075 per item $10,875 aggregate CCP 703.140(b)(3) |
| Jewelry, Heirlooms, Art | $10,950 CCP 704.040 | $2,150 CCP 703.140(b)(4) |
| Tools of Trade | $10,950 CCP 704.060 | $10,950 CCP 703.140(b)(6) |
| Wildcard (Any Asset) | None Available | $1,950 + unused homestead Up to $38,700 total CCP 703.140(b)(5) |
| Life Insurance | $13,950 (loan value) CCP 704.100 | $16,125 CCP 703.140(b)(8) |
| Deposit Accounts (Bank/Savings) | $2,170 CCP 704.220(a) | Use wildcard exemption |
| Residence Repair Materials | $4,400 CCP 704.030 | Use wildcard exemption |
| Books & Tools for Education | $8,625 CCP 704.050 | Use tools of trade or wildcard |
| Retirement Accounts | Generally Unlimited Various CCPs | Generally Unlimited Various CCPs |
| Personal Injury Awards | Varies by type CCP 704.140-704.200 | Limited amounts CCP 703.140(b)(11) |
Instructions: List your assets and current fair market values. Calculate protection under each system. Choose the system that protects more of your wealth.
System 1 (CCP 704) - Protects $________ of my assets
System 2 (CCP 703) - Protects $________ of my assets
My Choice: System _____ because: ________________________
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Filing Requirements:
☐ California resident for 2+ years (otherwise use previous state exemptions)
☐ Asset values as of petition filing date
☐ Cannot change systems after filing
☐ Professional review recommended for complex situations
Additional Notes:
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