Florida Bankruptcy Exemptions
The chart below contains a summary of Florida state bankruptcy exemptions and other relevant statutory laws. Click here for complete State of Florida bankruptcy exemptions laws.
Note: Federal bankruptcy exemptions are not available.
Personal exemptions allowed by Florida Bankruptcy Laws
Note: Under the 2005 bankruptcy law, almost all types of tax-exempt retirement accounts are exempt in bankruptcy whether state or Federal exemptions are used. Exemptions for 401(k)s, 403(b)s, profit-sharing and money purchase plans, and defined benefit plans include the entire account amounts. However, with traditional and Roth IRAs, the exemption is limited to a total value of $1,171,650 per person for all accounts held by the debtor (not per account). The total value amount is adjusted every three years for inflation. The relevant statutes: 11 U.S.C. §522(d)(12) for Federal bankruptcy exemptions; 11 U.S.C. §522(b)(3)(C) for state bankruptcy exemptions.
|Florida Homestead||Real property or personal property (including a mobile or modular home) to an unlimited amount. Note: property cannot exceed half an acre in a municipality or 160 acres elsewhere.|
Spouse or child of deceased owner may claim this exemption.
Property held as tenancy by the entirety may be exempt against debts owned by only one spouse.
|222.01; 222.02; 222.03; 222.05; Constitution 10-4|
|Wages||100% of wages for head of household up to $500 per week with unpaid or paid and deposited into a bank account for up to 6 months. For a Federal government employee, pension payments needed for support and received 3 months prior.||222.11; 222.21|
|Automobile||Up to $1,000||222.25|
|Other property||Disability or illness benefits||222.18|
|Alimony and child support needed for support||222.201|
|*Any personal property up to $1,000 (husband and wife may double); up to $4,000 if no homestead is claimed||Constitution 10-4; 222.25|
|Pre-need funeral contract deposits||497.56(8)|
|Wildcard||None specified: *See Personal Property head of family|
Note: While this reference information is current as of August 2010, it may not reflect the most up-to-date exemption figures on official state of Florida bankruptcy court statutes.