Florida Bankruptcy Exemptions
UPDATED: Oct 21, 2024
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UPDATED: Oct 21, 2024
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.
UPDATED: Oct 21, 2024
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
UPDATED: Oct 21, 2024
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
Federal bankruptcy exemptions available? NO
A court has held that under Florida law property held by a married couple under tenancy by the entirety may be exempt if only one of the spouses owes a debt. If both spouses owe a debt, the usual homestead exemptions apply.
All references to state statutes in the chart below are to the Florida Statutes Annotated.
Resources:
United States Bankruptcy Court, Middle District of Florida
United States Bankruptcy Court, Northern District of Florida
United States Bankruptcy Court, Southern District of Florida
| Florida Bankruptcy Exemptions | ||
|---|---|---|
| Assets | Exemption | State Statute |
| Homestead | Real or personal property, including a mobile or modular home: unlimited value for up to ½ acre in a municipality or 160 acres elsewhere. This exemption can be claimed by the spouse and children of a deceased owner. | Constitution 10-4; 222.01–222.3, 222.05 |
| Debtor may file a homestead declaration. | 222.01 | |
| Insurance | Death benefits: all benefits payable to a specific beneficiary and not to the deceased’s estate. | 222.13 |
| Annuity proceeds, except for lottery winnings: all. | 222.14 | |
| Life insurance cash surrender value: all. | 222.14 | |
| Illness and disability benefits: all. | 222.18 | |
| Fraternal benefit society payments: all. | 632.619 | |
| Miscellaneous | Child support and alimony: all necessary for support. | 222.25 |
| Damages for injuries to employees in hazardous occupations: all. | 769.05 | |
| Pensions | federal pension exemptions | |
| State officer and state employee pensions: all. | 121.131 | |
| County officers and county employee pensions: all. | 122.15 | |
| Firefighter pensions: all. | 175.241 | |
| Police officer pensions: all. | 185.25 | |
| IRAs, Roth IRAs, and ERISA-qualified benefits: all. | 222.21(2) | |
| Teacher pensions: all. | 238.15 | |
| Personal Property | Deposits into prepaid trust for college education: all. | 222.22(1) |
| Deposits into prepaid medical savings account: all. | 222.22(2) | |
| Deposits prepaid into hurricane savings account: all. | 222.22(4) | |
| Federal income tax refund/credit: all. | 222.25 | |
| Health aids: all. | 222.25 | |
| Motor vehicle: up to $1,000. | 222.25 | |
| Public Benefits | Public assistance: all. | 222.201 |
| Social Security benefits: all. | 222.201 | |
| Unemployment compensation benefits: all. | 222.201; 443.051(2), (3) | |
| Veterans’ benefits: all. | 222.201; 744.626 | |
| Workers’ compensation: all. | 440.22 | |
| Crime victims’ compensation: all if the debt is not for treatment of injuries received during the crime. | 960.14 | |
| Tools of Your Trade | No exemptions. | |
| Wages | Wages for head of family, paid or unpaid: 100% of all wages up to $750 per week. | 222.11 |
| Federal government employee pension received 3 months prior to any execution or collection of the funds: all. | 222.21 | |
| Wildcard | Personal property: up to $1,000 for single person. | Constitution 10-4 |
Click here to read an Introduction to Bankruptcy Exemptions.
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Mary Martin
Published Legal Expert
Mary Martin has been a legal writer and editor for over 20 years, responsible for ensuring that content is straightforward, correct, and helpful for the consumer. In addition, she worked on writing monthly newsletter columns for media, lawyers, and consumers. Ms. Martin also has experience with internal staff and HR operations. Mary was employed for almost 30 years by the nationwide legal publi...
Published Legal Expert
Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.