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 HomesteadReal 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
Wages100% 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
AutomobileUp to $1,000222.25
Other propertyDisability or illness benefits222.18
Alimony and child support needed for support222.201
*Any personal property up to $1,000 (husband and wife may double); up to $4,000 if no homestead is claimedConstitution 10-4; 222.25
Pre-need funeral contract deposits497.56(8)
WildcardNone 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.

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Go to Complete State of Florida bankruptcy exemptions laws.

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