Exemption Planning

The exercise of financial decision-making prior to bankruptcy to maximize how the exemption laws protect the debtor's property.

Related Term: 
Exemptions

Frequently Asked Questions

Our frequently asked questions also address Exemption Planning:

What is Bankruptcy Exemption Planning?

Each individual who files bankruptcy is entitled to a set of property exemptions, a series of statutory allowances for property that can be protected from creditors. The most important time for the application of these allowances is the moment the bankruptcy petition is filed. As a consequence, that means that choices and actions of the bankruptcy debtor in the period of time immediately before filing can change the extent of protection available for his or her property.

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