Florida Insurance Exemptions
Although it is occasionally referred to as “liquidation” bankruptcy, filing for Chapter 7 bankruptcy does not necessarily require that you surrender your assets or property. There are many people who are facing financial difficulty but are afraid of pursuing bankruptcy because they believe they will potentially lose everything they own. In fact, there are many exemptions you can claim when filing for Chapter 7 bankruptcy that allow you to keep certain property like your home, automobile, and even insurance policies.
There are a variety of insurance plans that you may need to protect your future and you need to make sure you file for these exemptions. You do not have to face this period of financial difficulty alone. To speak with a qualified attorney about your legal options, contact the West Palm Beach bankruptcy attorneys of Eric N. Klein & Associates, P.A., at 561-353-2600 to schedule a free consultation.
Types of Exempt Insurance Policies
It is important to talk with a qualified legal professional about all the exemptions you qualify for before filing for bankruptcy. The filing process can be very detailed and confusing, so it is important to get the proper legal advice. Some insurance plans you can exempt include:
- Life insurance policies
- Fraternal benefit society payments
- Illness or disability benefits
- Death benefits that have a beneficiary
While you can technically file for bankruptcy protection without the assistance of an attorney, it is not advisable to do so because you are at risk for committing potentially costly errors.
Contact US
At Eric N. Klein & Associates, P.A., our West Palm Beach bankruptcy attorneys will help you every step of the way as you seek to regain control of your financial life. If you currently receive insurance benefits or are covered by a policy and have concerns about how bankruptcy will bear on the situation, contact us today at 561-353-2600.
