In a typical bankruptcy proceeding, the term estate, or bankruptcy estate, refers to all of the non exempt assets and liabilities of the bankrupt debtor. Exempt items are items that the debtor is permitted to remain in possession of, and these items are not included in the official bankruptcy estate. In the majority of cases, most items will be exempt, as the point of bankruptcy is not to punish, but to allow a debtor to have the tools he or she needs to make a fresh start free from crushing financial burdens. If the bankruptcy estate contains any items, the estate will be liquidated in a chapter 7 case and the proceeds will be distributed to the debtor's creditors according to priority in order to pay off their debts.