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Exemptions in Bankruptcy – Florida


laniganpl.com Eric Lanigan of Lanigan and Lanigan PL in (Winter Park, Florida) talks about the personal and property exemptions that are available to those filing bankruptcy in Florida. All of these are general overviews of the primary exemptions that are available to Florida residents filing bankruptcy. There is of course the homestead exemption but in Florida, equity in homes is a rarity. The next is the retirement fund exemption. There’s an earned income exemption. There’s a social security exemption. Benefits that you receive, or going to receive. There’s language that says accumulated social security funds may be retained to maintain your lifestyle which is open to interpretation. You need to know the specifics. You need to understand tangible and intangible property, items you own that are personal property. For example, if you’re not taking advantage of a homestead exemption, husband and wife each have a personal property exemption. There is an automobile exemption. There is a total exemption available to you when you are not taking full advantage of personal property exemption or auto exemption. Tenancy by the entirety exemption comes into play only when one spouse in a married couple are filing bankruptcy. Find out what the detailed and correct answers are to your bankruptcy questions. If you’re filing bankruptcy in Florida come into the (Winter Park, Florida) office of Lanigan and Lanigan to meet with Roddy Lanigan or Eric Lanigan. The Lanigans provide