Here is a partial list of Federal Exemptions for bankruptcy. Married couples filing jointly may double all exemptions.

• $20,200 for real property including co-ops and and mobile homes

• Disability, social \security, unemployment and veterans’ benefits, some life insurance

• Pensions such as 401(k)s, 403(b)s, Profit Sharing and Money Purchase plans, SEP

• IRAs and Roth IRAs up to $1,095,000

• Jewelry up to $1,350

• Automobile or motor vehicle up to $3,225

• Wildcard of $1,075 on any property and Wildcard of up to $10,125 of unused homestead exemption amount, for any property

Federal exemptions are more appropriate for debtors who either (1)  do not own a home or the home has a very small amount of equity;  (2) have equity in their automobile worth more $3225.00; (3) or if the automobile or another personal property has up to $10,125 in equity, the wildcard exemption of $10,125 may be used.