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Michigan Homestead Exemption
Michigan Tools of Trade Exemptions
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Jurisdictional relevance: ST
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Homestead Exemptions
How much of your home equity is protected if you file for bankruptcy in Michigan?
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50 State 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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50 State Wild Card Citations
Almost every state has an exemption for "any property" which is sometimes called the "wildcard" or "grubsteak" exemption. Generally this exemption is useful because it can be combined with other exemptions to fully protect equity that might otherwise go unprotected.