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Florida Bankruptcy Exemptions

The Florida bankruptcy exemptions chart details the property you can protect from creditors when you file for
bankruptcy in Florida. You may exempt any property that falls into one of the exemptions categories below, up to the
dollar amount listed and you’ll be able to keep this exempted property after you file bankruptcy.  Bankruptcy law
allows married couples filing jointly to each claim a full set of exemptions, unless otherwise noted.  When you file
bankruptcy in Florida you may also use certain federal exemptions in addition to your Florida exemptions.

The list of exemptions below is an overview and may or may not apply in your case.  To find out how the
exemptions apply in your specific situation you can schedule a free consultation with a local bankruptcy attorney.
Filing for bankruptcy does not mean that you will never become successful.  

Anyone can face bankruptcy.  A number of successful people have found themselves overextended and ended up filing for bankruptcy.
Even some well-known American political figures have filed for bankruptcy, the most famous being the 16th president of the United
States, Abraham Lincoln. In fact, Lincoln filed for bankruptcy not just once, but twice.  The 18th president, Ulysses S. Grant, and the
25th president, William McKinley, both filed for bankruptcy protection as well.

This really bolsters the point that  bankruptcy is a new beginning in your life, not the end of it.
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ASSET
 EXEMPTION DESCRIPTION
   
Homestead
 Real or personal property including mobile or modular home to unlimited value;
property cannot exceed ½ acre in municipality or 160 contiguous acres elsewhere;
spouse or child or deceased owner may claim homestead exemption, May file
homestead declaration, Property held as tenancy by the entirety may be exempt against
debts owed by only one spouse
Insurance
 Annuity contract proceeds; does not include lottery winnings, Death benefits payable to
a specific beneficiary, not the deceased’s estate, Disability or illness benefits, Fraternal
benefit society benefits, if received before 10/1/96, Life insurance cash surrender value
Miscellaneous
 Alimony, child support needed for support, Damages to employees for injuries in
hazardous occupations, Pre-need funeral contract deposits, Property of business
partnership
Pensions
 County officers, employees, ERISA-qualified benefits, Firefighters, Highway patrol
officers
Police officers, State officers, employees, Teachers
Personal Property
 Any personal property to $1,000 (Husband & wife may double), Health aids, Motor
vehicle to $1000
Public Benefits
 Crime victims’ compensation unless seeking to discharge debt for treat of injury
incurred during the crime, Hazardous occupation injury recoveries, Public assistance,
Social security, Unemployment compensation, Veterans’ benefits, Workers’
compensation
Tools of Trade
 None
Wages
 100 dollars of wages for heads of family up to $500 per week either unpaid or paid and
deposited into bank account for up to 6 months, Federal government employees
pension payments needed for support and received 3 months prior
Bankruptcy Attorney Tampa, St. Pete, Clearwater