exemptions
Can I use my homestead exemptions toward my personal exemptions.I do not own a home. Thanks
-
-
Originally posted by Tam0
No...The only thing with this is depending on your state if you claim a homestead exemption you can only exempt a small amount of cash like $500 or less, and if you don't claim a hs exemption then you can claim more cash like $2000 exempt.
Plain and simply no homestead, no exemption... -
Each state has different exemptions & rules. Some do allow for a 'wild card' to be used if you don't have a homestead to exempt, others don't. Keep in mind that each state does have an amount for personal items also.
If you post your state, we can help more.Most of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.Comment
-
You can't speak in absolutes if you don't know what state is involved. Alot of states do allow you to use part of the homestead exemption as a wild card exemption if you don't need it on a homestead. Each state is different, and some even allow you to choose federal over state.
Originally posted by FoolAndHisMoneyMost of my information is from personal experience or HOURS and HOURS of online research. When you're searching online, keep in mind there is no guarantee that the info is completely up to date, and your situation is unique from anyone else's. Do your homework, and consult with an attorney so you can make an informed decision.Comment
Comment