Bankruptcy Lawyer - Exemption of Worker's Compensation Benefits in Florida

Submitted by Anonymous (not verified) on Tue, 11/05/2013 - 21:59
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Miami bankruptcy lawyer Jordan E. Bublick has over 25 years of experience in filing chapter 13 and chapter 7 bankruptcy cases. Office: 1221 Brickell Ave., 9th Fl., Miami, Florida. Tel.: (305) 891-4055. www.bublicklaw.com

Florida Statutes section 440.02 provides for a certain exemption of worker's compensation claims in Florida. It generally provides for the exemption of "compensation or benefits due or payable" under Florida Statutes, Chapter 440. The In re Mix, 244 BR 877 (Bankr. SD Fla. 2000) case held that this exemption for worker's compensation benefits applies whether the benefits are payable to compensate for lost wages or for present or future medical expenses.

This exemption though does not extend to creditors with claims based on an award of child support or alimony.

Deposited in Account

The Florida Supreme Court held in Broward v. Jacksonville Medical Center, 690 So. 2nd 589 (Fla. 1997) that "workers' compensation benefits received by the beneficiary and deposited in a bank account" remain exempt "so long as the funds are traceable to the workers' compensation benefits." Florida courts also hold that publicly traded stocks, bonds, and mutual funds purchased with worker's compensation benefits remain exempt.

Jordan E. Bublick is a Miami Personal Bankruptcy Lawyer with over 25 years of experience in filing chapter 13 and chapter 7 bankruptcies. Miami Personal Bankruptcy Lawyer Jordan E. Bublick has filed over 8,000 chapter 13 and chapter 7 cases.