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Illinois Compiled Statutes
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() 735 ILCS 5/Art. XII Pt. 10
(735 ILCS 5/Art. XII Pt. 10 heading)
Part 10.
Exemption of Personal Property
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735 ILCS 5/12-1001
(735 ILCS 5/12-1001)
(from Ch. 110, par. 12-1001)
Sec. 12-1001. Personal property exempt. The following personal property,
owned by the debtor, is exempt from judgment, attachment, or distress for rent:
(a) The necessary wearing apparel, bible, school | | books, and family pictures of the debtor and the debtor's dependents;
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(b) The debtor's equity interest, not to exceed
| | $4,000 in value, in any other property;
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(c) The debtor's interest, not to exceed $2,400 in
| | value, in any one motor vehicle;
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(d) The debtor's equity interest, not to exceed
| | $1,500 in value, in any implements, professional books, or tools of the trade of the debtor;
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(e) Professionally prescribed health aids for the
| | debtor or a dependent of the debtor;
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(f) All proceeds payable because of the death of the
| | insured and the aggregate net cash value of any or all life insurance and endowment policies and annuity contracts payable to a wife or husband of the insured, or to a child, parent, or other person dependent upon the insured, or to a revocable or irrevocable trust which names the wife or husband of the insured or which names a child, parent, or other person dependent upon the insured as the primary beneficiary of the trust, whether the power to change the beneficiary is reserved to the insured or not and whether the insured or the insured's estate is a contingent beneficiary or not;
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(g) The debtor's right to receive:
(1) a social security benefit, unemployment
| | compensation, or public assistance benefit;
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(2) a veteran's benefit;
(3) a disability, illness, or unemployment
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(4) alimony, support, or separate maintenance, to
| | the extent reasonably necessary for the support of the debtor and any dependent of the debtor.
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(h) The debtor's right to receive, or property that
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(1) an award under a crime victim's reparation
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(2) a payment on account of the wrongful death of
| | an individual of whom the debtor was a dependent, to the extent reasonably necessary for the support of the debtor;
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(3) a payment under a life insurance contract
| | that insured the life of an individual of whom the debtor was a dependent, to the extent reasonably necessary for the support of the debtor or a dependent of the debtor;
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(4) a payment, not to exceed $15,000 in value, on
| | account of personal bodily injury of the debtor or an individual of whom the debtor was a dependent; and
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(5) any restitution payments made to persons
| | pursuant to the federal Civil Liberties Act of 1988 and the Aleutian and Pribilof Island Restitution Act, P.L. 100-383.
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For purposes of this subsection (h), a debtor's right
| | to receive an award or payment shall be exempt for a maximum of 2 years after the debtor's right to receive the award or payment accrues; property traceable to an award or payment shall be exempt for a maximum of 5 years after the award or payment accrues; and an award or payment and property traceable to an award or payment shall be exempt only to the extent of the amount of the award or payment, without interest or appreciation from the date of the award or payment.
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(i) The debtor's right to receive an award under Part
| | 20 of Article II of this Code relating to crime victims' awards.
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(j) Moneys held in an account invested in the
| | Illinois College Savings Pool of which the debtor is a participant or donor and funds invested in an ABLE Account as defined by Section 529 of the Internal Revenue Code, except the following non-exempt contributions:
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| (1) any contribution to such account by the
| | debtor as participant or donor that is made with the actual intent to hinder, delay, or defraud any creditor of the debtor;
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| (2) any contributions to such account by the
| | debtor as participant during the 365 day period prior to the date of filing of the debtor's petition for bankruptcy that, in the aggregate during such period, exceed the amount of the annual gift tax exclusion under Section 2503(b) of the Internal Revenue Code of 1986, as amended, in effect at the time of contribution; or
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| (3) any contributions to such account by the
| | debtor as participant during the period commencing 730 days prior to and ending 366 days prior to the date of filing of the debtor's petition for bankruptcy that, in the aggregate during such period, exceed the amount of the annual gift tax exclusion under Section 2503(b) of the Internal Revenue Code of 1986, as amended, in effect at the time of contribution.
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| For purposes of this subsection (j), "account"
| | includes all accounts for a particular designated beneficiary, of which the debtor is a participant or donor.
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| Money due the debtor from the sale of any personal property that was
exempt from judgment, attachment, or distress for rent at the
time of the sale is exempt from attachment and garnishment to the same
extent that the property would be exempt had the same not been sold by
the debtor.
If a debtor owns property exempt under this Section and he or she purchased
that property with the intent of converting nonexempt property into exempt
property or in fraud of his or her creditors, that property shall not be
exempt from judgment, attachment, or distress for rent. Property acquired
within 6 months of the filing of the petition for bankruptcy shall be presumed
to have been acquired in contemplation of bankruptcy.
The personal property exemptions set forth in this Section shall apply
only to individuals and only to personal property that is used for personal
rather than business purposes. The personal property exemptions set forth
in this Section shall not apply to or be allowed
against any money, salary, or wages due or to become due to the debtor that
are required to be withheld in a wage
deduction proceeding under Part 8 of this
Article XII.
(Source: P.A. 100-922, eff. 1-1-19 .)
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735 ILCS 5/12-1002
(735 ILCS 5/12-1002) (from Ch. 110, par. 12-1002)
Sec. 12-1002.
Schedule of property.
It shall not be necessary for the
debtor against whom a judgment or attachment was entered or distress warrant
was issued to
make a schedule of his or her personal property to enable him or her
to secure the
exemption and to retain the property enumerated in paragraph (b) of
Section 12-1001 of this Act, but whenever any debtor against whom a judgment
or attachment was entered or distress warrant was issued,
desires to avail himself or herself of the benefit of this Act to make a
selection
of certain household furniture (in case such property is worth more than
the amount he or she is entitled to retain) or to select other personal
property instead of household furniture or to select part household
furniture and part other personal property he or she shall, within 10 days
after a copy of the judgment, attachment or distress warrant is served upon
him or her in the same manner as summonses are served in other civil cases,
such copies of the judgment,
attachment or distress warrant to
have endorsed thereon a notice signed by the officer having such document,
notifying the debtor that he or she must file a schedule of his or her property within
10 days from the service thereof in order to claim his or her exemption under
Part 10 of Article XII of this Act, whereupon the debtor shall make a schedule
of all his or her personal
property of every kind and character, including money on hand and debts
due and owing to the debtor and shall deliver the same to the officer
having the certified copy of the judgment, attachment or distress warrant, or file
the same in the court which entered the document, which schedule shall be
subscribed and sworn to by the debtor, and any property owned by the
debtor, and not included in such schedule shall not be exempt, and thereupon
the court which entered
the judgment or attachment or issued the distress warrant shall summon 3
householders,
who, after being duly sworn to fairly and impartially appraise the
property of the debtor, shall fix a fair valuation upon each article
contained in such schedule, and the debtor shall then select from such
schedule the articles he or she may desire to retain, the aggregate
value of which shall not exceed the amount exempted, to which he or she
may be entitled, and deliver the remainder to the officer having the document;
and the officer having such document is authorized to
administer the oaths required herein of the debtor and appraisers. In
case no schedule is filed, it shall be the duty of the officer
to exempt and disregard the articles enumerated in paragraphs (a), (e),
(f), (g) and (h) of
Section 12-1001 of this Act and the personal property
if it is worth not more than the
amount the debtor is entitled to have exempted under paragraphs (b), (c)
and (d) of
Section 12-1001 of this Act and if the personal property is worth more
than the amount
of the exemption to which the debtor is entitled, the court
which entered the judgment or the attachment order or the distress warrant issued
shall secure a fair and impartial appraisal of the personal property
in the same manner as all the personal property is appraised when a
schedule is filed, and after such valuation, such officer shall
select and exempt personal property to the amount
to which the debtor
is entitled to retain. When the judgment debtor has presented a sufficient
schedule of all his or her personal estate, the return of such judgment
unsatisfied, shall
not render it necessary for such judgment debtor, for the purpose of
availing himself or herself of the benefits of the exemption laws of this state, to
present an additional schedule unless additional property has been
acquired, before 90 days from the date of the issuance of the certified
copy of the judgment.
(Source: P.A. 83-968.)
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