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Bankruptcy Exemptions

The Florida bankruptcy exemptions 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.

ASSETEXEMPTION DESCRIPTION
HomesteadReal 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
InsuranceAnnuity 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
MiscellaneousAlimony, 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. If not claiming a homestead exemption, an additional $4000 of personal property maybe claimed. (Husband & wife may double)
Public BenefitsCrime 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 TradeNone
Wages100 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


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