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What can You Keep After Declaring Bankruptcy in Florida?

One of the most common questions that potential bankruptcy filers have is whether they will be able to keep their possessions after bankruptcy. The answer is, “Sometimes.” It depends on a number of factors, but some personal property is considered to be “exempt,” meaning that the owner is able to keep that property after a bankruptcy discharge. One important consideration for people who are filing for bankruptcy is that in Chapter 7 bankruptcy, a person must have little to no disposable [...]

Florida Voters Poised to Increase Homestead Property Tax Exemption

Florida residents are poised to vote on an amendment called ”Increased Homestead Property Tax Exemption,” which if passed will give an additional tax advantage to homestead property that has an assessed value of greater than $100,000 and less than $125,000. Meanwhile, homestead property that is valued at greater than $125,000 would receive the entire savings. It is important to note that this valuation is based on the home’s assessed value rather than its market value. For qualifying membe[...]