The Federal Exemptions include the following:

Residence:  $17,425 of the Debtor's equity in a residence. Up to $8,725 of unused exemption may be used to exempt any property. This "excess residence" exemption is often used to shield non-exempt property. Important: under the state exemptions, all the equity in any entireties property may be exempt without limit.

Motor Vehicle: $2,775 of the equity in one motor vehicle. Leased cars are technically an asset, but are routinely ignored by trustees. The debtor usually "reaffirms" the lease and keeps the car. Same for heavily financed cars. Motor vehicles are not exempt under the state exemptions (unless it’s a "tool of the trade").

Household Goods: $9,300 in aggregate (not to exceed $450 in any one item) of the following property held primarily for personal, family or household use: household goods, wearing apparel, appliances, books, animals, crops, musical instruments. Under the state exemptions, all clothes (furs and all) are exempt but household furniture is limited to only $3000.

Jewelry: $1,150 in jewelry.

Wild Card: $925 in any property. This "wild card" exemption can be combined with up to $8,725 of the unused residence exemption to shield non-exempt property.

Tools of the Trade: $1,750 which includes tradesman’s hand tools, doctor’s car, lawyer’s books.

Term Insurance:  Any unmatured life insurance contract. Usually ignored by trustees unless it "matures" during the bankruptcy. Includes group insurance but not credit life. Important: Bankruptcy estate includes insurance payable to debtor within 180 days after filing Petition. 

Whole Life Insurance: $9,300 in loan value of a policy owned by Debtor on life of Debtor or dependent. Only one $9,300 exemption is allowed regardless of how many policies are owned. Under the state exemptions, all the cash surrender value of all policies may be exempt if spouse or children are beneficiaries.

Disability Insurance: The right to receive disability, illness or unemployment benefit.