Does anyone have any info about the exemptions being doubled if both spouses are filing? Some mentioned this, is this for state or federal. Our attorney never mentioned it.
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Originally posted by momof3b1g View PostDoes anyone have any info about the exemptions being doubled if both spouses are filing? Some mentioned this, is this for state or federal. Our attorney never mentioned it.
You need to read the specific exemptions for your State. usually they will have a sentence with them that marreid couples filing together may double.
Again, this is by State. In California, some exemptions can't be doubled. You need to read the actual exemption.
Example, in Florida, any personal property to $1,000 is covered by Exemption. Husband & wife may double. However, you can't double the motor vehicle exemption as it's per vehicle. However, a Husband & wife get the $1K in each of two vehicles. A single filer only gets $1K in one vehicle.
Understand? It's not just simply doubling everything.Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
Visit My BKForum Blog: justbroke's Blog
Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.
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Originally posted by momof3b1g View PostThis is what i read. So does anyone know about this for federal?
If you live in one of the above states, you must choose between using these exemptions or the ones allowed by your state. Be sure to compare the Federal Bankruptcy Exemptions with your state’s exemptions. The Federal Bankruptcy Exemptions can be doubled by a husband and wife filing together. This list updated as of August 2007.
I always like to read them specifically so as not to be caught by things like the homestead exemption is almost always never doubled. (But, alas, the Federal allows it.)Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
Visit My BKForum Blog: justbroke's Blog
Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.
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Originally posted by justbroke View PostIf your State allows you to choose the federal over your State, then yes... if that's what it reads in the Federal Exemptions.
I always like to read them specifically so as not to be caught by things like the homestead exemption is almost always never doubled. (But, alas, the Federal allows it.)FILED CH7: 03/20/09
341: May 11th, 2009
DISCHARGED: July 13th, 2009
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I think I confused you by what I wrote. When i posted "Alas, the Federal allows it", I was meaning that the Federal Exemptions can be doubled for husband/wife filing.
If you decide to use your State exemptions, you'll need to read each one to see if those can be doubled.Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
Status: (Auto) Discharged and Closed! 5/10
Visit My BKForum Blog: justbroke's Blog
Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.
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Originally posted by Tbornetun View PostAll of them.
What about the wild card? Or household goods? We could have $18000 in household goods?FILED CH7: 03/20/09
341: May 11th, 2009
DISCHARGED: July 13th, 2009
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Originally posted by Tbornetun View PostWe have been able to double the vehicle exemption while the client only has one car.
They are all doubled.
So are you in the cities? We are filing with someone up north. My FIL used them and seemed to be happy with how things turned out. Did the doubling change recenty? I know my Inlaws filed before the changes.
So what if they go by the $144,000 taxable value and we owe $101,000. If the homestaed exemption is doubled to $40,400. Are we going to have to pay the trustee $2600?
Also how come snowblowers (especially in MN) are considered luxury? My inlaws had to pay the trustee for theirs. I could even see if they lived in town, but when you have acreage. Its a need. LOLFILED CH7: 03/20/09
341: May 11th, 2009
DISCHARGED: July 13th, 2009
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Originally posted by Tbornetun View PostFor the 2600, it would be up to the trustee whether or not they bother. We usually cover snow blowers under the wildcard exemption. Sometimes we have slid it in under "tools for trade", depending upon the situation.FILED CH7: 03/20/09
341: May 11th, 2009
DISCHARGED: July 13th, 2009
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