Florida Exemptions

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Chapter 7 starting at $999, plus filing fees and costs.

Chapter 13 starting at $2,500, plus filing fees and costs.

Exemptions are assets that creditors cannot seize to satisfy debtor’s debts. Exemptions are provided by state law and federal law.

Under Florida law, a debtor can exempt or protect from creditors certain property. However, if equity in the property exceeds the allowed exemption, the trustee may choose to sell this asset and distribute the value of the exemption as a cash payment to the debtor and the remaining net proceeds to the creditors.

To  be able to claim Florida’s exemptions in bankruptcy, the debtor must have domiciled in Florida for at least 730 days prior to filing of bankruptcy petition.  ​If the debtor has not domiciled in Florida for at least 730 days, then the debtor would be claiming exemptions of the state in which the debtor domiciled for the longest portion of the 180 days preceding the 730 days before filing, or during the 731-911 days before filing.

Federal law limits certain Florida exemptions in bankruptcy. For example, the homestead exemption is limited to $189,050 if purchased less than 1,215 days prior to bankruptcy. Also, the alimony and child support exemption in bankruptcy is limited to the extent reasonably necessary for support of the debtor and any dependents. 

Florida exemptions include, but not limited to: ​

Motor Vehicles

$5,000 of equity in a single motor vehicle

Florida Statute §222.25

Personal Property

$1,000

Article X, §4 of Florida Constitution

Alimony and Child Support

as reasonably necessary for support

11 USC §522(d)(10)

Homestead

100% of equity

Federal law limits homestead exemption to $189,050 if purchased less than 1,215 day prior to bankruptcy.

Article X, §4 of Florida Constitution

Public Assistance Benefits

Social Security, VA, disability, workers’ compensation, unemployment compensation benefits.

11 USC §522(d)(10) and Florida Statutes §§222.15-222.16

$750 per week of the after-tax earnings of heads of family

The after-tax earnings greater than $750 are also exempt, unless the exemption has been waived in a credit agreement.

Florida Statute §222.11

25% of after-tax earnings per week or 30 times the federal minimum wage, whichever is less.

15 U.S. Code § 1673

Wild Card

$4,000 of any assets

If homestead exemption is not claimed.

Florida Statute §222.25

Tenancy by the Entirety

100% of joint property of husband and wife.

Record title must contain the word “and.”

Earned Income Tax Credit or Refund

Florida Statute §222.25

Life Insurance Payout

Florida Statute §222.13

Health and Medical Savings Accounts

Florida Statute §222.22

Tax-Exempt Retirement Accounts

Florida Statute §222.21

401K, 403b, simple and Roth IRA, etc.

Education Savings Accounts

e.g., Florida Prepaid College Trust Fund

Florida Statute §222.22

Cash Surrender Value of Life Insurance Policies and Annuity Contracts

Florida Statute §222.14

Public Officers and Employee Benefits

Florida Statutes § 121.131

Teachers’ Retirement Benefits

Florida Statutes §238.15

Firefighter Pensions

Florida Statutes § 175.241

Municipal Police Pensions and Annuity Benefits

Florida Statutes §185.25

Pensions and Annuities of State and County Officers and Employees

Fla. Stat. § 122.15

Certain Partnership Property

Fla. Stat. §§620.153, 620.8307

How can we help?

We can help you maximize your bankruptcy success by exempting as much as your property as possible to ensure you retain most, if not all, of your property while discharging most, if not all, of your debts.

At Anna Handy Law Firm, P.A., we are acutely aware of the financial strain of our clients. We do not charge you for the initial phone consultation. We do not push you to file bankruptcy to get a retainer. We don’t judge – we find solutions. We give you honest advice about your options and rights, including the “doing nothing” approach. As such, we offer very affordable bankruptcy fees. We make our fees competitive and in certain cases, we offer payment plans to address each case individually as each case has a different set of circumstances. 

If you are overburdened by your debts, being sued or harassed by creditors, or subject to wage garnishment, do not hesitate to call us now for a free initial phone consultation. The attorney’s direct business cell phone number is (386) 248-3000. You may also email us at [email protected].