The word exempt means: “released from, or not subject to, an obligation, liability, etc.” (Ref: https://www.dictionary.com/) When you file Chapter 7 you are giving permission to the Trustee to sell things that you can NOT exempt. (Examples are: the new Jaguar that is paid for, the Lear jet, or the $10,000.00 antique hutch you inherited from grandma). For most debtors in California the exemptions cover everything, so there is nothing left for the Trustee to take and sell. If you are concerned about your assets, and what CAN be exempted, call for an appointment with one of our attorneys to determine your rights and what may be at risk.