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CCP 704.060
I have to take the 704 exemptions on a case to protect the debtor's home, as I'm sure more of us are seeing in this market. That means no wild card.
The only other asset hanging out is an old truck the family makes the living with, and the dad drives.
It's worth $15,000 so just his tools of the trade exemption will not suffice to protect all the value.
Add a dual exemption under CCP 704.060 and it does work. The provision is as copied below:
(3) Twice the amount of the exemption provided in paragraph (1), if reasonably necessary to and actually used by the judgment debtor and by the spouse of the judgment debtor in the exercise of the same trade, business, or profession by which both earn a livelihood. In the case covered by this paragraph, the exemptions provided in paragraphs (1) and (2) are not available.
However, mom doesn't drive the truck.
I'm thinking about putting her in as the bookkeeper to make her part of the business.
So my questions are -
Does this make her sufficiently part of the business to qualify for the exemption? It certainly is the income upon which she depends.
Does she have to also be a debtor in this case? She's not presently.
Any input would be greatly appreciated.
Steve
Law Offices of Steven B. Lever
Steven B. Lever
* Tel. (562) 436-5456 ext. 1
* Fax (562) 485-6886
* sblever@leverlaw.com
www.leverlaw.com
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I have to take the 704 exemptions on a case to p
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