Bankruptcy Exemption Planning
Exemptions in Bankruptcy When filing bankruptcy, there are certain assets, incomes, and benefits that may be under exemption from creditors. With proper pre-bankruptcy planning, one may begin to understand which assets are under exemption, and which ones are payable to creditors. (this will also vary heavily on whether bankruptcy is filed under chapter 7 or chapter 13)
Florida Law Bankruptcy Exemptions
Bankruptcy exemption law varies from state to state. Here are a few of the assets that qualify for exemption during bankruptcy under Florida law.
Homestead (Real or personal property including mobile or modular home to unlimited value) Insurance Alimony or child support (needed for personal or family support) Pensions for state-based employees (Police officers, teachers, firefighters, etc.) Personal property to $1000; motor vehicle to $1000 Public benefits
If you have any questions regarding bankruptcy exemptions, call to speak with Venice attorney Michael A. Chiantella today. Call 941-488-1779 or click here to contact us online now.
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