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
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.