Michigan Tools of Trade Exemptions

 

Most states allow an exemption for "tools of trade or profession"... this can include tools, books, even vehicles. Sometimes can be an alternative to the motor vehicle exemption.

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Tools of Trade Exemptions — State System

Michigan Law Tools of Trade Exemptions

Federal non-bankrupcty Tools of Trade Exemptions

Tools of Trade Exemptions — Federal System § 522(d)

Can Michigan debtors use the Federal Bankruptcy exemptions instead of Michigan exemptions?

Yes. Michigan residents can use the Federal or State exemption systems.

Michigan has passed a special set of exemptions designed only to be used in bankruptcy cases (found in Section 600.5451). Although debtors can use the the exemptions in Michigan's "bankruptcy only" exemption statute, as well as ANY OTHER exemptions found in other Michigan statutes, such as exemptions for life insurance. (See In re Sasasak, 426 B.R. 680.)

The Federal Bankruptcy Exemptions under 11 U.S.C. § 522(d) are available to you if

  • you haven't lived in any state longer than 180 days for a while,
  • or
  • if your state allows the Federal exemptions as a choice.

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Jurisdictional relevance: ST

There are versions of this article for each State.