The property you are permitted to keep in a Chapter 7 is called your "exempt" property. (The concept of exempt property also has application in other bankruptcy chapters, but it is a little less direct.) Federal bankruptcy law allows each State to use either the Federal list of exemptions or use that State's own list. Florida, like 37 other states, has elected to use its own exemption laws ("opting out" of the federal scheme). As a result, the exemptions available in Florida is different from those of every other state. Sometimes we attorneys hear, "but my cousin who filed for Chapter 7 in Virginia got to keep…" Doesn't matter. Floridians have their own list of exemptions which are extra generous in some categories and stingy in others. This is not a complete list of exemptions available to Floridians, but it's close.
In Florida each adult can exempt, in whole or in part, the following:
  • $1,000 Personal property
  • $1,000 Motor vehicle
  • 401(k) plan
  • Alimony (necessary)
  • Annuities
  • Annuities, Military
  • Cash surrender value of life insurance policies
  • Crime victims compensation
  • Deferred compensation program, State Employees
  • Disability benefits
  • Disability income
  • Entireties Property
  • Fraternal benefit society benefits
  • Hazardous occupations, damages for injuries
  • Health aids, professionally prescribed
  • Homestead (house or mobile home you live in + limited land) or (Mobile home you live in, no land) No dollar limit!!
  • Illness benefits
  • IRA
  • Keogh plan
  • Local public assistance benefit
  • Payment on account of illness, disability, death,age, or length of service (necessary)
  • Pension payment, non-specific (necessary)
  • Pension, Firefighters
  • Pension, Highway Patrol
  • Pensions, federal, last 3 months (necessary)
  • Pension, Railroad
  • Pre-paid college fund
  • Profit-sharing payment (necessary)
  • Retirement and benefits, Police officers
  • Retirement benefits, State and County Employees
  • Retirement, Teachers
  • Retirement, Civil Service
  • Separate maintenance (necessary)
  • Social Security benefits
  • Stock bonus retirement (necessary)
  • Stock bonus payment retirement (necessary)
  • Support (necessary)
  • Unemployment benefits
  • Unemployment compensation
  • Unemployment compensation
  • Veteran's benefits
  • Wages, Head of family
  • Wages, Seamen and Masters
  • Worker's compensation
  • Wages, Seamen and Masters
  • Worker's compensation
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