Will BARF Affect State-specific Exemptions?
In my state the exemptions are (partially): Homestead -Real or personal property used as residence to $25,000; unused portion of homestead may be applied to any property Personal Property -Animals, crops, clothing, appliances, books, household goods, furnishings, musical instruments to $400 per item, $8,000 total -Burial plot to $15,000 in lieu of homestead Wild Card -$800 of any property -Unused portion of homestead or burial exemption, of any property I may have to declare br, after BARF passes. There will have been no income for eight or so months before filing. If the above exemptions stand, I think I may be able to keep my car (worth $5000 now) and meager possessions, the value of which altogether totals less than the exemptions listed above. If this isn't necessarily true, I'd like to know...
Answer:
The exemptions provisions of BARF are still a bit uncertain, particularly as regards the homestead exemption.
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