Non-exempt assets

Non-exempt assets are property or valuables that are not protected from creditors or legal claims in situations like bankruptcy. These assets can be used to pay off debts because they are not shielded by exemptions. Examples include valuable jewelry, second cars, or investment accounts, depending on the specific laws. In contrast, exempt assets like a primary residence or basic household items are protected and cannot be taken to settle debts. Understanding which assets are non-exempt helps individuals know what might be at risk during financial insolvency proceedings.