What Are the Exemptions in a New Jersey Bankruptcy? by Daniel Straffi Jr. скачать в хорошем качестве

What Are the Exemptions in a New Jersey Bankruptcy? by Daniel Straffi Jr.

What Are the Exemptions in a New Jersey Bankruptcy? by Daniel Straffi Jr. If you are considering filing for bankruptcy in Ocean County, this video explains how exemptions work under New Jersey law and how they may affect your home, vehicle, retirement accounts, wages, and other assets. Daniel E. Straffi Jr., Esq., a New Jersey bankruptcy attorney based in Toms River, discusses the key differences between federal bankruptcy exemptions under 11 U.S.C. § 522(d) and the New Jersey exemptions under N.J.S.A., and how your choice can impact what property you keep in Chapter 7 or Chapter 13 bankruptcy. Straffi & Straffi Attorneys at Law 670 Commons Way, Toms River, NJ 08755, United States (732) 341-3800 https://www.straffilaw.com/new-jersey... https://www.google.com/maps?cid=18340... At Straffi & Straffi Attorneys at Law, located at 670 Commons Way in Toms River, clients throughout Ocean County, Central New Jersey, and Southern New Jersey receive guidance on how to approach exemption planning. This video reviews how 11 U.S.C. § 541 defines the bankruptcy estate and why properly claiming exemptions on Schedule C is critical. It also explains how Schedules A/B, equity calculations, and the role of the bankruptcy trustee can influence the outcome of your case. New Jersey does not provide a state homestead exemption, which is why many filers look closely at the federal homestead exemption under 11 U.S.C. § 522(d)(1). The video outlines how the homestead exemption protects equity in a primary residence and how married couples filing jointly may apply the exemption. It also explains the federal motor vehicle exemption under 11 U.S.C. § 522(d)(2), the wildcard exemption under 11 U.S.C. § 522(d)(5), and additional protections for household goods, jewelry, and tools of the trade under 11 U.S.C. § 522(d)(3), (4), and (6). Daniel Straffi Jr. also addresses tenancy by the entirety under 11 U.S.C. § 522(b)(3)(B) and how New Jersey courts, including guidance from Freda v. Commercial Trust Co. of New Jersey, 570 A.2d 409 (N.J. 1990), treat jointly owned property when only one spouse files. The video explains the 730-day residency rule under 11 U.S.C. § 522(b)(3)(A) and how recent moves may affect which exemption laws apply. Retirement account protections under 11 U.S.C. § 522(b)(3)(C) and § 522(n) are also reviewed, including coverage for 401(k) plans, IRAs, pensions, and other tax-exempt accounts. The discussion covers wage protections under N.J.S.A. 2A:17-56, unemployment benefits under N.J.S.A. 43:21-53, workers’ compensation under N.J.S.A. 34:15-29, and additional public benefits that remain protected in bankruptcy. Daniel E. Straffi Jr., a graduate of Boston College and Rutgers-Camden School of Law, serves as Co-Chair of the Bankruptcy Panel of the Ocean County Bar Association and is a member of the New Jersey State Bar Association. He is admitted to practice in New Jersey, Pennsylvania, and the United States District Court for the District of New Jersey. Through Straffi & Straffi Attorneys at Law, he works with individuals and families to review assets, compare exemption options, and prepare bankruptcy filings with care. If you live in Toms River or anywhere in Ocean County and want to understand how bankruptcy exemptions apply to your situation, contact Straffi & Straffi Attorneys at Law at (732) 341-3800 to schedule a free consultation. What is excluded in a bankruptcy? What is the bankruptcy code exempts? What are 5 types of debt that are not dischargeable in bankruptcy? How does bankruptcy work in New Jersey?