Running Your Business
BizFilings provides useful information to help you manage and grow your business.
Filed under Running A Business.
These assets are exempted from a state court or bankruptcy proceeding in New Jersey.
Pensions and Retirement Benefits: ERISA-qualified plans. Funds exempt for public employees. IRA exemptions for conventional, Roth, education, SEP and SIMPLE plans. Roth IRAs and regular IRAs up to $1,245,000 per person.
Insurance: Annuity contract proceeds to $500 per month. Fraternal society benefits. Military disability or death benefits. Disability, death, medical or hospital benefits for civil defense workers. Life insurance proceeds if proceeds cannot be used to pay beneficiary's creditors. Health or disability benefits. Life insurance proceeds if another insured. Group life or health policy proceeds.
Personal Property: Personal property and corporation shares up to $1,000. Clothing. Burial place. Furniture and household goods up to $1,000.
Tools of Trade: None.
Miscellaneous: Business partnership property.
Wages: 90% of earned but unpaid wages if income under $7,500. If income over $7,500, judge decides amount. Wages or allowances of military personnel.
Public Benefits: Workers' compensation. Unemployment compensation. Old-age and permanent disability assistance. Crime victim's compensation.
Wild Card: None.