> It turns out she had Stage IV cancer and was about to go before a bankruptcy magistrate to fight to keep her clothes, housing, and vehicle. There are protect

> It turns out she had Stage IV cancer and was about to go before a bankruptcy magistrate to fight to keep her clothes, housing, and vehicle. There are protections that vary significantly by state, and it's interesting to look through the variations in policy. Some states exempt a single firearm (regardless of value). If memory serves right, 401k's are protected by ERISA rules, but many states have IRA protections as well. Iowa exempts the entire homestead up to 1/4 acre in a city, regardless of its value. Having to deal with all of those items while battling a terrible disease puts someone in a disadvantaged position, but if you're ever in a position to help someone, it is good to be aware what exemptions exist. If your house is exempted, don't do a HELOC to pay medical bills. https://www.nolo.com/legal-encyclopedia/california-bankruptcy-exemptions-property-assets.html https://www.nolo.com/legal-encyclopedia/california-bankruptc...