Examples of public benefits that are generally exempt are welfare, unemployment compensation or social security. If you receive a benefit from either the state or federal government, you should inquire from the administrator of the program whether or not the benefit is a public benefit. Tools of trade. Trade implements that are used to make a living. For example, a plumber may have tools or a working van that are necessary to perform his or her plumbing duties.
Many states provide an exemption for some or all of the trade implements necessary for employment.
Regularly earned income from full or part-time employment. This is an exemption that can be used to protect your choice of property. State and federal exemption lists normally provide a dollar figure for each exemption. Equity refers to the amount that you would receive if the property were sold and the proceeds were first used to pay off any loans or liens on the property. The exemption amounts apply to your equity in the property.