Even though the U.S. Bankruptcy Code governs the U.S. Bankruptcy process, states may have their own rules about what property creditors cannot touch. These are known as “exempt property.” A set of federal exemptions are offered via the bankruptcy code, but Florida law requires residents to use state exemptions because exemptions here are among the best. Only established residents are eligible for state exemptions. This means you must have been a resident for two years before filing. If the two years cannot be proven, you must apply the rules from the state you lived in during the six months before moving. The federal exemptions are used if you no longer qualify for the exemptions in your previous state.