In chapters 7/13 is variable annuites and life insurance exempt from the trustee liquidation?
Country relating to Question: United States
State (if USA): Florida
have no earned income and have bank debt and lawsuit judgement for millions and only an insurance cash value of 1/2 million!
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please re reply I am 64 have $800m in variable annuitits and life insurance with foreclosre bank judgements of several millions; have a Florida homestead with a home equity above the mortgage of about $500m and a $500m final judgement from a recent plaintiff's judgement. what is exempt and what is preferred a 7 or a 13 filing? thx
Based upon the information in your post only, a chapter 7 would be preferred. The annuities, life insurance and Florida homestead equity would typically be exempt/protected
Bankruptcy Lawyer. Experienced.
To just answer, if chapter 7 is filed, is the homestead equity forgone or is it retained at some amount? ,
I am happy to clarify – In Florida homestead equity is protected from creditor claims
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