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%