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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I have decided to claim homestead exemption, which leaves me

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I have decided to claim homestead exemption, which leaves me with only 1K for property. Just finished inventory of my household and came up with value of 1.5-2K. Used ebay, local goodwill store, garage price estimates. HAve pricing info for large items printed out. If I add $500 for my 500 shares of my own corporation I would be between 2 and $2.5K. Should I select only what I NEED to exempt, and be prepared to negotiate with Trustee for the rest?
*This chat is not intended as legal advice. It is general information that may or may not apply to your situation and should not be relied upon.*

Typically the trustee is not going to have any interest in a debtor personal household property. Most debtors value their property at garage sale prices

That said, regardless of the amount that you list as the value for your corporation, you need to be prepared for the trustee to challenge it
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