I am in B.K.chapter 7 ,the trustee is objecting to exempt property claiming that is my wifes revocable trust and therefore not owned by the debtors.

There is not enough information to answer your question.  You need to hire a bankruptcy attorney to protect your rights.  A living revocable trust does not in any way protect the assets of the trust from creditors; it is merely a probate device.  Whether you took the wrong homestead exemption or have too much equity in the property is something you'd need to discuss with a bankruptcy attorney in your area.   Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.