Have Florida Bankruptcy Exemptions Changed for 2026?

If you are thinking about filing for personal bankruptcy in 2026, will any of the Florida exemptions be different from what they were last year? Generally speaking, federal dollar amounts increase every three years, and state bankruptcy exemptions under the Florida Statutes may change when lawmakers introduce legislation, as they did back in 2024 with regard to Florida’s automobile exemption. Otherwise, however, bankruptcy exemptions are unlikely to change outside those contexts. Our South Florida bankruptcy lawyers can explain in more detail below, and we can answer any bankruptcy-related questions you have today.

Bankruptcy Exemptions Remain in Place for 2026

Under Section 104(b) of the US Bankruptcy Code, federal dollar amounts, including for federal exemptions, are to be adjusted every three years for inflation. While most of these federal exemption amounts do not apply for Florida debtors (residents of Florida will primarily have to use Florida’s bankruptcy exemptions), the most recent date of adjustment was April 1, 2025. As such, the current dollar amounts will remain in place until March 31, 2028.

As for Florida’s bankruptcy exemptions outlined in Chapter 222 of the Florida Statutes, these will remain in effect unless adjustments are made in Florida. Before changes to exemption amounts become law, news about proposed legislation will arise — as it did with the automobile exemption change in 2024 from $1,000 to $5,000 — and you can follow it as it moves through lawmaking bodies for consideration.

In other words, the same exemptions that were in place last year for bankruptcy filers in Florida will remain in place for anyone who files for bankruptcy in 2026.

Which Bankruptcy Exemptions Will Apply to Your Filing?

What are the bankruptcy exemptions available to you? If you qualify for the Florida exemptions, there are many different exemptions that you may be able to use in order to exempt assets from liquidation in a Chapter 7 filing or to reduce the total amount you must repay in a Chapter 13 reorganization bankruptcy. Some of the most commonly used exemptions available to Florida residents who file for bankruptcy include but are not limited to:

• Florida homestead exemption, which allows you to exempt an unlimited amount of equity in your home;
• Motor vehicle exemption of up to $5,000;
• Wildcard exemption of $1,000 (or $4,000 if you do not use the homestead exemption);
• Specific types of savings accounts that include education savings, health savings, and hurricane savings;
• Pensions;
• Retirement benefit accounts such as 401(k) and 403(b) accounts; and
• Family support payments up to the amount reasonably necessary for the support of the debtor and any dependents.

You should discuss other relevant filings with your bankruptcy lawyer.

Contact Our West Palm Beach Bankruptcy Lawyers for Assistance with Exemptions in Your Bankruptcy Filing 

If you are considering a personal bankruptcy filing and have any questions about the exemptions and their application to your Chapter 7 or Chapter 13 case, a lawyer in South Florida can help you. One of the experienced West Palm Beach bankruptcy attorneys at Kelley Kaplan Delaney & Eller, PLLC, PLLC can speak with you today about applicable bankruptcy exemptions for you and how they will impact your case. Contact our firm to learn more about how we can assist you.

Sources:

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0200-0299/0222/0222ContentsIndex.html

flsenate.gov/Session/Bill/2024/158/Analyses/2024s00158.ju.PDF

law.cornell.edu/uscode/text/11/104