State Exemptions of Florida

In the State of Florida, if you file Bankruptcy, you will most likely use the State Exemptions of Florida, rather than the Federal Exemptions, or the Exemptions of any other State.

There is an Exception to this Rule.

To use the State Exemptions of Florida when filing Bankruptcy in Florida, you must be Domiciled in the State of Florida for at least 730 days before filing Bankruptcy. This is known as the 730 day rule.

If you lived in more than one State in the last 730 days then the State you lived in the for the most period of time (or days) before the filing of the Bankruptcy, is the State in which you apply the Exemption.

The reason for this rule is the US Congress, in passing the revisions to the Bankruptcy Laws in 2005, wanted to prevent forum shopping, where a Debtor would file Bankruptcy in the State with the most favorable Exemptions. Although some Debtors engaged in forum shopping, they were the small minority of those filing Bankruptcy. Nevertheless, the 730 day rule and the 180 day rule were created to prevent forum shopping.