Chapter 7 Bankruptcy Lawyers in Miami

What Happens to Your Assets in Chapter 7? 

One of the biggest concerns people have about Chapter 7 bankruptcy is losing their property. The reality is often far less severe than most expect because of Florida’s generous bankruptcy exemptions.

Here are some of the notable exemptions: 

• The homestead. If your home is your primary residence, it can often be fully protected, no matter its value, as long as it sits on no more than half an acre in a municipality or 160 acres in an unincorporated area. 
• Personal property. Florida allows up to $1,000 in personal property exemptions (or $4,000 if you don’t use the homestead exemption). This can include furniture, electronics, jewelry, and art, among other assets. 
• Your vehicle. You can typically protect up to $5,000 of equity in a motor vehicle. 
• Wages and benefits. Earnings from your job, retirement accounts, life insurance cash value, and public benefits (such as Social Security) are generally safe. We can advise on the specifics of each individual case. 

How Our Chapter 7 Attorneys Help Protect Your Assets

We examine your finances in detail to confirm that every eligible exemption is being applied. Our attorneys are skilled at analyzing equity, reviewing title documents, and creating strategies to protect high-value assets where possible.

We also help you prepare and organize the documents needed to demonstrate exemption eligibility, including property deeds, vehicle titles, and personal property valuations. Our experience in Miami-Dade County’s bankruptcy courts means we understand how local trustees approach exemptions, empowering us to build a strong, accurate filing from day one.