Florida Resident, Chapter 7, No Homestead Exemption
Question: In the State of Florida, if one's personal property is mostly cash in the bank, i.e. checking and savings, would the $4,000 Wild Card Exemption (assuming no homestead exemption) apply to these funds up to the $4,000 limit. I read somewhere that there was a limit ($500) on the amount of bank checking/savings funds that could be offset by the Wild Card Exemption. Would F.S. 222.25(4) be that statute that would apply in this case.
Yes, that $4,000 exemption would be available for cash and depository accounts
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You could also potentially protect it as wages under 222.11 if the cash is from wages from the last 6 months and then you can use your wild card to protect other assets.
You are correct, the $4,000 wildcard exemption in Florida applies to bank accounts and cash based on the statute. You may have a separate exemption in the bank account if the source of the money is your wages.
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