Are prepaid funeral contract expenses and owned burial plots or crypts protected from bankruptcy chapter 7?

These are assets that must be disclosed in your bankruptcy schedules. Whether or not you can exempt and protect these assets in bankruptcy depends on what exemptions are available to you. You should consult with a local, experienced, bankruptcy attorney to review this and other issues pertaining to your case. Most offer a free initial consultation. Best Wishes, Steve Doan, Esq

This is an exemption question. You must determine which exemption scheme applies to you. Here is a link to florida exemptions if they apply: http://www.legalconsumer.com/bankruptcy/bankruptcy-law.php?ST=FL You must have lived in Florida to use the exemptions for 24 continuous months. Good luck.

A burial plot or crypt is in fact real property. The applicable exemption used in NJ (under the federal rules which are generally used in NJ) is 11 USC § 522(d)(1) "the debtor's aggregate interest, not to exceed $21,625 in value in real property or personal property of the debtor or a dependent of the debtor used as a residence, in a cooperative that owns real property that the debtor or a dependent of the debtor uses as a residence, OR IN A BURIAL PLOT FOR THE DEBTOR OR A DEPENDENT OF THE DEBTOR." Bruce C. Truesdale Middlesex, NJ btruelaw.com

The answer depends on what exemptions you have available to you. Florida has opted out of the federal exemptions, so if you have lived here for the past two years, you'll receive unlimited equity in a homestead as long as it was purchased more than 1215 days ago, $1000 equity in a single motor vehicle, $1000 worth of personal property, and $4000 as Florida's wild card exemption if you are not claiming the benefits of a homestead. Any property you have over these allowed amounts will be considered property of your bankruptcy estate. So in short, there is no direct burial plot exemption in Florida outisde of the personal property exemption.

The direct answer is NO. Joseph Lenti II nailed it with his answer.

No, it is considered real estate and is not exempt.