What other assets are protected in bankruptcy?

Well, in Florida, we've opted out from the federal system. In Florida, we're allowed to have pretty much unlimited homestead. There are some limitations as to how it's used though, so it's important to consult with an attorney before assuming that your homestead is automatically protected.

There's also a $1,000 personal property exemption, $1,000 equity towards the vehicle. That could be for each spouse, so it would be 2,000 total for each spouse. Then you also have an exemption called a special or wild card exemption. If you're not claiming a homestead, there's an additional 4,000 of personal property that you can claim. Personal property would include things like bank accounts, jewelry, furniture, clothing, anything, basically, that's personal in nature that you own.

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