If you’re considering bankruptcy in California, you might be wondering: Are there any exemptions for specific assets in California bankruptcy cases?
Yes, California offers specific asset exemptions under two exemption systems: Section 704 and Section 703. The 704 system provides stronger protections for home equity, while the 703 system offers flexibility for personal assets. Exemptions cover vehicles, jewelry, household goods, retirement accounts, and more, ensuring you can retain essential property during bankruptcy.
Having helped countless individuals protect their most valuable assets in bankruptcy, I know how important it is to choose the right exemption strategy. Let’s break down the key asset protections available under California law.
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