American Bar Association Young Lawyers Division The 01 Practice Series: Beon the Basics © 2010 American Bar Association. All Rights Reserved. Pre-Bankruptcy Planningi By Jeana Kim Reinbold I. Exemptions and Pre-Bankruptcy Planning Exemption laws allow individuals to protect certain assets from creditor process. The Bankruptcy Code permits debtors to exempt property from distribution to creditors pursuant to state law.ii The Code generally respects property...