Exempt Property

Nashville Exempt Property Lawyer

Are you concerned about losing your homestead and other personal property through filing bankruptcy? At Rothschild and Associates, PLLC, we provide legal representation to clients throughout the bankruptcy process. We understand people have many concerns about losing their home and other personal possessions. It is entirely possible to maintain possession of exempt property such as your home, bank accounts, education funds, and other valuable personal property.

Does the worry of exempt property and filing bankruptcy have you stuck between a rock and a hard place? If so, consider a board certified bankruptcy attorney from Rothschild and Associates. Contact our firm today to arrange your free consultation.

What Property Is Exempt?

Exempt property varies from state to state. There are various exemptions available to Tennessee residents that limit trustee and creditor access. For many people, the most important form of exempt property is the homestead exemption. Other exempt property includes:

• Money and funds on deposit with a bank
• Clothing
• Family pictures
• Family heirlooms
• Tools of the trade
• Wedding rings
• Workers' compensation benefits
• Unemployment compensation benefits
• Education funds
• Employee contributions to ERISA retirement plans

It is important to speak with an attorney to learn more about federal and state exemptions. Exemptions allow property owners to maintain possession of their property, but these exemptions may depend on whether you file Chapter 7 or Chapter 13 bankruptcy. If you are worried about losing your property, we can help.

Time is often of the essence. Please contact our firm today to learn more or to arrange a consultation.