California Codes, Code of Civil Procedure - CCP, Part 2 — Of Civil Actions, Title 9 — Enforcement of Judgments, Division 2 — Enforcement of Money Judgments, Chapter 4 — Exemptions, Article 3 — Exempt Property, Section 704.105

Money held in an account owned by the judgment debtor and established pursuant to the Golden State Scholarshare Trust Act (Article 19 (commencing with Section 69980) of Chapter 2 of Part 42 of Division 5 of Title 3 of the Education Code) is exempt without making a claim, subject to the following limitations:

(a) The amount exempted for contributions to an account during the 365-day period prior to the date of entry of a money judgment, in the aggregate during this period, shall not 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 entry of the money judgment.

(b) The amount exempted for contributions to an account during the period commencing 730 days prior to and ending 366 days prior to the date of entry of a money judgment, in the aggregate during this period, shall not 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 entry of the money judgment.

(c) For the purposes of this section, “account” includes all accounts having the same beneficiary.

(d) This section is not subject to the requirements of Section 703.150.

Notes

Exempts money in a judgment debtor’s Golden State Scholarshare Trust account without a claim, but contributions made within 365 days before judgment and those made 366 to 730 days before judgment are each capped at the applicable annual federal gift-tax exclusion. All accounts for the same beneficiary count together, and no inflation adjustment applies.

Use as reference

Lexinter.net | California Code, Code of Civil Procedure - CCP § 704.105 | https://laws.lexinter.net/codes/california/code-of-civil-procedure/part-2/title-9/division-2/chapter-4/article-3/section-704-105

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