Both state and federal law provide for property exemptions–items that you can keep even after the bankruptcy process ends.

In the bankruptcy case of Lunkes, William J.; In re, the bankruptcy court denied the debtor a bankruptcy exemption for a trust left by the debtor’s father.
The details of the bankruptcy case:
“In 2002, the debtor’s father established a trust. He was the settlor, trustee and beneficiary. The debtor and his four siblings were contingent beneficiaries. [...]

Chapter 7 filings are up 50% in California since 2007, according to the California Lawyer Magazine.