Sunday, June 14, 2015

Florida Bankruptcy Exemptions

Real Property

Homestead - unlimited in value, l/2 acre in municipality, 160 acres outside municipality, Art. X, Section 4, Florida Constitution

Personal Property 

Generally - to extent of $1,000, Art. X, Section 4, Florida Constitution and a further $4,000 in certain circumstances

Motor Vehicles - to extent of $1,000

Property Held as Tenants by Entireties for debts of only one spouse

Health Aides Professionally Prescribed

Earnings of Head of Family

Proceeds of Life Insurance on Florida Resident

Cash Surrender Value of Life Insurance on Life of Florida Resident

Annuity Contracts

Disability Income Benefits

Workers' Compensation Benefits

Qualified Tuition Programs, Prepaid College Trust Funds

Health or Medical Savings Accounts

Educational IRA