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Bankruptcy Exemptions in Florida

In Florida there are several types of assets that are exempt from claims in most cases. Below each exemption type in BOLD are some examples of what is exempt

Homestead
  • Your home and 1/2 acre in the city or 160 acres outside a city. Depending on the time you have owned the home, you may have unlimited protection in Florida.
Retirement Accounts
  • Retirement benefits - Public, Teachers, Police, Fireman, State employees100%
  • Retirement benefits - county and state officers and employees-100%
  • Retirement, profit-sharing, stock bonus plans, annuities qualified under IRS 1986-100%
  • Pension money of U.S. pensioner is limited to 3 months if needed for support
Automobile
  • $1,000 of equity in one automobile per debtor

Personal Property $1000 per debtor

Additional Personal Property For Non-Homeowners
  • $4,000 of personal property per debtor (effective 07/01/2007)
Public Employees
  • Government employee benefits – 100%
  • Health insurance - public employees – 100%
Head of Family Wages
  • $500/week or less - 100 % protected
  • More than $500/week:75% or 30 X federal minimum wage is protected
Non-Head of Family Wages
  • 75% or 30 X federal minimum wage which ever is greater
  • Unemployment Compensation Benefits - 100% except for support obligations
Life Insurance
  • Life Insurance proceeds-100%
  • Cash surrender value or proceeds of annuity contracts-100%
Disability
  • Disability benefits-100%
  • Health aids, professionally prescribed-100%
  • Social Security, Public Assistance Benefits – 100%
  • Veteran's Benefits - 100%
  • Workers' compensation benefits – 100%
  • Damages for injury or death at work, hazardous occupations -100%
Miscellaneous
  • Alimony, child support - amount reasonably necessary
  • FL Prepaid College Trust Fund - 100%
  • Medical Savings Account -100%
  • Pre-need Funeral Contracts / Consumer Protection Trust Fund-100%
  • Partner's Interest in Partnership Property – 100%
  • Fraternal Benefit Society Benefits - 100%
  • Crime victim's compensation-100%
Client Reviews
★★★★★
After years of trying to protect my assets from creditors, I was shocked to find out that my assets were unprotected in ways I had never considered. Not only had I placed my assets at risk from my mother's creditors, but I had placed my assets at risk from other family members who were intent on manipulation. When my mother died, I discovered that a family member had changed my mother's estate planning documents. Mr. Goldman and his team were able to explain what went wrong and successfully defended my position in court. During the case, I learned that I could have had much better protection from family and creditors, thus avoiding years of litigation and undue familial stress. When it comes to protecting your assets and your family, I would highly recommend hiring Mr. Goldman and his team. Bill H.
★★★★★
As a real estate agent, I have been involved with many property transactions where I needed a probate attorney to help facilitate the transaction. I have used the services of Mr. Goldman and his staff over the last several years and continue to use them on a regular basis. His office has been able to navigate the court system and help estates sell their property quickly and efficiently. In addition, Mr. Goldman can help real estate investors structure trusts to protect their assets from creditors. Michael Starling
★★★★★
This office is fantastic. I was faced with a horrible situation and this office helped to put an end to the untenable situation. Ms. Kendal Schoepfer was always available before, during, and after office hours to answer any questions that I had. I highly recommend this law office to all. Tisha Brown
★★★★★
Kendal was an amazing answer to a difficult time. Highly recommend her!!! Dana Ramsey