California Increases the Scope of Home and Car Protections beginning January 1, 2023
In January 2021, the homestead exemptions available to protect the equity in a primary residence were increased to up to as much as $600,000 from a typical exemption of $100,000 in the majority of cases. That homestead exemption has been adjusted upwards every year in an effort to keep up with inflation. Starting January 1, 2023, a new enhancement to the homestead exemption will be applied in the context of a bankruptcy proceeding. Under the new law, created by California S