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Which types of assets are exempt under the Federal list when filing bankruptcy?

The Federal list focuses on big-ticket items, such as the debtor’s house and furnishings, life insurance policies, retirement benefits, car, jewelry, business tools and payments from personal injury lawsuits. There is also a catch-all, or miscellaneous, category. Exempt items are not 100% exempt; rather, the Federal rules set a dollar maximum for most categories. These maximums are reviewed and adjusted every other year.

Barry Rosenzweig
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Barry Rosenzweig, has 25 years experience as an attorney helping clients solve their legal problems.