Exempt Property

Question 1

What is exempt property?

Answer 1

Items that the surviving spouse gets first, off the top, before doing anything else. They are personal property set asides that the surviving spouse gets.

Question 2

In addition to the elective share, the surviving spouse is entitled to—

Answer 2

Exempt personal property up to $92,500 in value, including:

• one car (up to $25,000 in value)
• furniture, appliances, electronics, etc. (up to $20,000)
• cash allowances (up to $25,000)
• animals, farm machinery, etc. (up to $20,000)
• books, dvds, cds, software, etc. (up to $2,500)

Question 3

BAR EXAM TIP- IN ANY QUESTION INVOLVING A SURVIVING SPOUSE, MENTION THAT THEY GET AN EXEMPT PERSONAL PROPERTY SET-ASIDE

Answer 3

IF NO SURVIVING SPOUSE, THESE SET-ASIDES GO TO CHILDREN UNDER 21

Question 4

UNLESS THE BAR EXAMINERS SPECIFICALLY PUT THIS INTO PLAY, JUST BRIEFLY MENTION IT BUT DO NOT GO INTO SPECIFIC DETAIL BREAKDOWNS

Answer 4

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