01 Nov Exempt Property

When a decedent has a spouse or children, some assets, including the decedent’s homestead property, two vehicles, household furnishings, and up to $1,000.00 in personal property are exempt from creditor’s claims and should not be used to pay debts. Florida Statute section 732.402 and Section 10, Article 4 of the Florida Constitution contain the rules for exempt property.

It is important that your attorney identifies exempt property to the court so that the probate judge understands that this property is not available to pay creditor’s claims.

Exempt property passes directly to the decedent’s wife and/or children and should never be used to pay debts of the estate. Non-exempt property is available to creditors who were owed money from the decedent. The most significant exemption under Florida law is for the decedent’s homestead property, which will be covered in more detail in my next post.

If you have lost a loved one who either was a resident of, or owned property in the the State of Florida, and need assistance with Florida Probate, CLICK HERE, to schedule a consultation with a Florida Probate Attorney.

We serve clients throughout Florida, including, but not limited to, those in the following localities: Alachua County including Alachua, Archer, Gainesville, Hawthorne, High Springs, and Newberry; Bay County including Panama City and Panama City Beach; Broward County including Deerfield Beach, Fort Lauderdale, Hollywood and Pompano Beach, Clay County including Lakeside; Columbia County including Lake City; Duval County including Jacksonville; Leon County including Tallahassee; Marion County including Ocala; Miami-Dade County, including Aventura, Coral Gables, Hialeah, Miami, Miami Beach, Miami Gardens, North Miami, North Miami Beach and Sunny Isles; Palm Beach County including Boca Raton, Delray Beach and Palm Beach, Putnam County including Palatka; Sarasota County including Sarasota; and Taylor County including Perry.