Exemptions are protected allowances for the value in certain assets.  For example, a homestead exemption protects the equity you have in your home, up to a certain value.  All States have different exemption laws which protect the value in certain assets.

You need to check with a qualified bankruptcy attorney regarding what exemptions you are entitled to when you file your case.

Which state’s laws you use depends on where your domicile was located for the 2 years prior to commencing your bankruptcy case (more on exemptions).