You will be able to retain the property that is exempt and you can possess anything that you have obtained after you filed for bankruptcy. However, in the case of an inheritance or a property settlement and benefits received from life insurance within a period of six months after your filing for bankruptcy, the values involved in these cases will have to be used in settling the debts to your creditors if the money and property in question is not considered as exempt. All properties that are covered by Texas bankruptcy exemptions can be kept during the case.