Florida Bankruptcy Exemptions
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 Attorneys
| Florida Bankruptcy Exemptions
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| Assets |
Exemption |
State Statute |
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| 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 |
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Debtor may file a homestead
declaration. |
222.01 |
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| Insurance |
Death benefits: all benefits
payable to a specific beneficiary and not to the deceased’s estate. |
222.13 |
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Annuity proceeds, except for
lottery winnings: all. |
222.14 |
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Life insurance cash surrender
value: all. |
222.14 |
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Illness and disability
benefits: all. |
222.18 |
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Fraternal benefit society
payments: all. |
632.619 |
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| Miscellaneous |
Child support and alimony: all
necessary for support. |
222.201 |
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Damages for injuries to
employees in hazardous occupations: all. |
769.05 |
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| Pensions |
federal pension exemptions |
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State officer and state
employee pensions: all. |
121.131 |
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County officers and county
employee pensions: all. |
122.15 |
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Firefighter pensions: all. |
175.241 |
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Police officer pensions: all. |
185.25 |
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IRAs, Roth IRAs, and
ERISA-qualified benefits: all. |
222.21(2) |
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Teacher pensions: all. |
238.15 |
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| Personal Property |
Deposits into prepaid trust for
college education: all. |
222.22(1) |
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Deposits into prepaid medical
savings account: all. |
222.22(2) |
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Deposits prepaid into hurricane
savings account: all. |
222.22(4) |
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Federal income tax
refund/credit: all. |
222.25 |
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Health aids: all. |
222.25 |
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Motor vehicle: up to $1,000. |
222.25 |
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Deposits for funeral contract
(pre-need): all. |
497.56(8) |
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| Public Benefits |
Public assistance: all. |
222.201 |
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Social Security benefits: all. |
222.201 |
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Unemployment compensation
benefits: all. |
222.201; 443.051(2), (3) |
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Veterans’ benefits: all. |
222.201; 744.626 |
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Workers’ compensation: all. |
440.22 |
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Crime victims’ compensation:
all if the debt is not for treatment of injuries received during the crime. |
960.14 |
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| Tools of Your Trade |
No exemptions. |
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| Wages |
Wages for head of family, paid
or unpaid: 100% of all wages up to $500 per week; wages deposited into bank
account: up to $500 per week for up to 6 months after deposited. |
222.11 |
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Federal government employee
pension received 3 months prior to any execution or collection of the funds:
all. |
222.21 |
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| Wildcard |
Personal property: up to $1,000
for single person, up to $2,000 for married couple. |
Constitution 10-4 |
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Click here to read an Introduction to Bankruptcy Exemptions.
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