Is anybody here familiar with Florida Exemptions? Most of the threads I've been reading seem to think that when you don't use your homestead exemption your personal exemption rises $3000 from $1000 to $4000 + $1000 for the vehicle which equals $5000 total. My attorney told me today that the wildcard is $4000 which is added to the personal exemption of $1000 and the vehicle exemption of $1000 for a total of $6000 not $5000. I'm confused now because what he is saying makes total sense.
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That's the $64,000 question.
Right now, it is how the law is interpreted and how far an attorney can push the envelope.
Mine pushed it. -
From what I understand, IF, I understand... If you are married filing jointly, you get 2K for a car, 2K for personal and 8K to apply to anything you want (including the car or tax return ect..)
I'm still not sure if I qualify for the wildcard because every atty says something different and people on here who just went through bk tell me I qualify.. I just don't want to get comfy then see the trustee say "nope!"Comment
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I'm single in Manatee county and was told my exemption would be $4000. My car has no equity. Even in bankruptcy I still will not move back up North!Comment
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I was told 4000.00 in Polk county. If I do not take homestead .chpt 7 ,5-2009Comment
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Will not be using the homestead exemption. So...will I be able to double the $4000.00 wildcard since we are filing jointly? Or can you only use it once?Comment
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Its $4000 statutory personal property exemption +$1000 Fl. constitition personal property exemption +$1000 automobile exemption = $6000 total.
All doubled if filed jointly with spouse.
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Actually, the information in the above link is dated/old . While the exemption amounts are accurate, there are a few things mentioned that have been since further litigated as far as application of the exemptions for folks who have an underwater homestead.Originally posted by 2Bshinyandnew View PostComment
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I moved from FL, March 2009 and currently live in Alabama. We live in a 5th wheel and have for 3 years. However, our 2004 truck is almost paid for ($1500.00 left). When I went to the Kelly blue book, it is valued, trade in, good condition at $15,275, We also have a 1987 boat that we paid $600 and 1996 30 ft car hauler, we paid $4000.00 for in 2006, the floor has rotten out and I am thinking it will be estimated at around $1000.00. We have a few tools, patio furniture, clothes, household goods (sheets, towels and etc., since we live in a 5th wheel, all furniture was furnished.
So... just trying to get as much in exemptions as I can to keep all three (truck, boat & trailer). We live on retirement and Social Security, but have very few monthly living expenses. Thanks in advance for any advice.Comment
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We filed in April and rent a home so no homestead.Our attorney goes by exactly what you have posted.Originally posted by 2Bshinyandnew View PostComment
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