Florida Bankruptcy
Exemption Calculator

Florida has opted out of the federal bankruptcy exemptions, meaning debtors filing in Florida must use the state's own exemption schedule. Bankruptcy exemptions determine which assets you can keep when filing Chapter 7 bankruptcy or how much equity is protected in Chapter 13.

The specific dollar limits in Florida directly determine whether a Chapter 7 trustee can liquidate your home, car, or savings — and how much unsecured creditors must receive in a Chapter 13 plan.

Exemptions protect specific categories of property up to defined dollar limits: your home (homestead), vehicles, personal belongings, wages, retirement accounts, and tools needed for your occupation. If the equity in an asset exceeds the applicable exemption, a Chapter 7 trustee may sell the asset, pay you the exempt amount, and distribute the remainder to creditors.

In Chapter 13, exemptions determine the minimum amount your repayment plan must pay unsecured creditors.

Florida's exemption amounts can differ substantially from neighboring states and from the federal baseline. Florida offers one of the most protective homestead exemptions in the nation, with unlimited dollar value protection.

These amounts are periodically adjusted, so confirming the current figures with a bankruptcy attorney before filing is essential.

• Florida's exemption statutes are found at Fla. Stat. §§ 222.01–222.25 and the Florida Constitution art. X, § 4. Florida has opted out of federal exemptions. Non-obvious Florida exemptions include: annuity contract benefits (fully exempt under Fla. Stat. § 222.14 — one of Florida's most powerful exemptions)
• life insurance cash surrender value (fully exempt under Fla. Stat. § 222.13)
• disability income benefits (up to $1,170/month exempt)
• professional licenses and Florida liquor licenses (exempt)
• and hurricane mitigation tax credits. Florida's head-of-household wage exemption (100% of disposable earnings) is among the most protective nationally. The $4,000 personal property wildcard (for non-homestead filers) can be combined with other exemptions. Married couples should note that Florida is an equitable distribution (not community property) state.

The homestead exemption in Florida protects Unlimited value of equity in your primary residence from creditors in bankruptcy. Unlimited dollar value on up to 1/2 acre in a municipality or 160 acres outside.

One of the most protective homestead exemptions in the nation. Constitutional protection.

Must establish residency 730+ days before filing or limited to $201,050.

Because Florida provides unlimited homestead protection, debtors who own their home outright or have significant equity may be able to file Chapter 7 and keep their home regardless of its value — as long as acreage limits are met. This makes Florida one of the most debtor-friendly states for homeowners.

Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), debtors who acquired their homestead within 1,215 days (about 3.3 years) before filing are limited to a $201,050 homestead exemption regardless of state law. This federal cap prevents debtors from moving to states with generous homestead exemptions shortly before filing.

Additionally, if a debtor has been convicted of securities violations or certain felonies, the homestead exemption may be further limited.

Florida allows a motor vehicle exemption of $1,000. This protects equity in your vehicle — not the vehicle's full value.

If you owe $15,000 on a car worth $20,000, your equity is $5,000. If your vehicle equity is within the exemption amount, you keep the car.

If it exceeds the exemption, the trustee may sell the vehicle, pay off the loan, pay you the exempt amount, and distribute the rest to creditors.

For personal property, Florida provides the following protections: $1,000 per item in personal property. These exemptions cover essential household items such as furniture, appliances, clothing, and similar necessities.

In practice, Chapter 7 trustees rarely seize ordinary household goods because the cost of seizure and sale typically exceeds the resale value. However, high-value items like art collections, antiques, or designer goods may attract trustee attention.

Tools of the trade — equipment, instruments, and supplies needed for your occupation — are protected up to $1,000 in Florida. This exemption is critical for self-employed individuals, tradespeople, and professionals whose livelihood depends on specialized equipment.

The exemption typically covers hand tools, machinery, professional libraries, office equipment, and similar items directly used in your work.

The wildcard exemption in Florida allows you to protect $4,000 (available only if debtor does not claim homestead) of equity in any property of your choosing. This is one of the most flexible tools in bankruptcy planning because it can be applied to any asset — cash, tax reimbursements, bank accounts, a second vehicle, equity above the homestead limit, or any other property that doesn't fit neatly into another exemption category.

Without a wildcard, Florida debtors must rely entirely on category-specific exemptions. Strategic pre-bankruptcy planning — such as converting non-exempt assets into exempt forms — becomes more important in states without a wildcard.

Married couples filing jointly may be able to double exemption amounts (called "stacking") depending on Florida law. In some states, each spouse can claim the full exemption amount, effectively doubling protection.

In others, the exemption amounts are per-household rather than per-person. A bankruptcy attorney can advise whether doubling is available for your specific situation in Florida.

Retirement accounts receive strong protection in Florida bankruptcy cases. ERISA-qualified plans — including 401(k), 403(b), profit-sharing plans, and defined benefit pensions — are fully exempt from creditor claims under both federal and state law with no dollar cap.

This is one of the most powerful protections available to bankruptcy filers.

Traditional and Roth IRAs are exempt up to $1,711,975 (as of 2024, adjusted every 3 years) under 11 U.S.C. §522(n).

This federal cap applies regardless of state exemption choices. SEP-IRAs and SIMPLE IRAs that receive only employer contributions are treated like ERISA plans and receive unlimited protection.

Inherited IRAs, however, are NOT protected in bankruptcy following the Supreme Court's decision in Clark v. Rameker (2014).

Wage protection in Florida: Head of household wages 100% exempt; otherwise 75% of disposable earnings. This exemption protects your paycheck from garnishment by the bankruptcy trustee and general creditors.

The wage exemption typically applies to earned but unpaid wages, meaning money you have already earned but not yet received. Once wages are deposited into a bank account, they may lose their exempt status unless you can trace them.

Public benefits are also protected: Unemployment, workers' comp, Social Security, TANF, veterans' benefits exempt.

Pre-bankruptcy planning in Florida involves legally structuring your assets to maximize the protection offered by available exemptions. Since Florida requires use of state exemptions, your planning focuses on ensuring assets are held in exempt forms and that equity in each category stays within the exemption limits.

Common legitimate pre-bankruptcy strategies include: paying down a mortgage to increase protected home equity (where the homestead exemption allows it), contributing to retirement accounts (which are fully protected), converting non-exempt assets to exempt forms (such as using cash to prepay exempt insurance policies), and repairing or maintaining exempt property like your vehicle or home. These conversions must be done in good faith and well in advance of filing.

Courts scrutinize large asset conversions made shortly before bankruptcy as potential fraud.

Timing matters significantly. Federal law imposes a means test for Chapter 7 eligibility, and income is measured over the 6 months before filing.

Even with Florida's unlimited homestead, the BAPCPA's 1,215-day residency requirement applies — if you haven't lived in Florida for at least 730 days, you may be required to use your prior state's exemptions. Consulting with a Florida bankruptcy attorney 3–6 months before filing allows time to implement legitimate planning strategies.

Bankruptcy exemptions are one piece of a larger financial picture. The Florida Chapter 7 Means Test Calculator determines whether your income qualifies you for Chapter 7 discharge.

If you don't qualify for Chapter 7, the Florida Chapter 13 Payment Plan Calculator estimates your monthly repayment plan. And if your home equity is at stake, the Florida Homestead Exemption Calculator breaks down exactly how much equity is protected under Florida law.