Michigan State Exemption List

Federal and State Exemptions Allowed

In the state of Michigan you can use either the State of Michigan Bankruptcy Exemption List or the federal bankruptcy exemption list. There may be certain federal supplemental exemptions you can use if you choose the state exemption list. All exemptions should be discussed with your Michigan Bankruptcy Attorney.

Michigan has created bankruptcy exemptions to allow you to maintain enough public benefits, wages, personal property and insurance to start over after filing bankruptcy in Michigan. There may be certain residency requirements to use the State of Michigan Bankruptcy Exemption List

The following table will outline the Michigan Bankruptcy Exemptions. Some of your property or assets may not have a matching exemption.

Exemptions Exemption Amount Statutes
Homestead

Real property including condo to $3500; property cannot exceed 1 lot in town, village, city, or 40 acres elsewhere

Spouse or child of deceased owner may claim homestead exemption

Property held as tenancy by the entirety may be exempt against debts owed by only one spouse

559.214, 600.6023(1)(h), (I), 600.6023(3), 600.6027

SNB Bank & Trust v. Kensey, 378 N.W. 2d 594 (Ct. App.Mich. 1985)
Personal property

Appliances, utensils, books, furniture & household goods to $1000 total

Building & loan association shares to $1000 par value, in lieu of homestead

Burial plots, cemeteries; church pew, slip, seat

Clothing; family pictures

2 cows, 100 hens, 5 roosters, 10 sheep, 5 swine; hay & grain to last 6 months if you’re a head of household

Food & fuel to last 6 months if you’re a head of household
600.6023(1)(b)
600.6023(1)(g)
600.6023(1)(c)
600.6023(1)(a)
600.6023(1)(d)
600.6023(1)(a)
Public benefits

AFDC

Crime victim’s compensation

Social welfare benefits

Unemployment compensation

Veterans’ benefits for Korean War veterans

Veterans’ benefits for Vietnam veterans

Veterans’ benefits for WWII veterans

Workers’ compensation
330.1158a
18.362
400.63
421.30
35.977
35.1027
35.926
418.821
Insurance

Disability, mutual life or health benefits

Fraternal benefit society benefits

Life, endowment or annuity proceeds if clause prohibits proceeds from being used to pay beneficiary’s creditors
600.6023(1)(f)
500.8181
500.4054
Miscellaneous Property of business partnership 449.25
Pensions

Firefighters, police officers

ERISA-qualified benefits

IRAs

Judges

Legislators

Probate Judges

Public school employees

State employees

38.559(6)

600.6023(1)(k)

600.6023(1)(l)

38.825

38.1057

38.925

38.1346

38.40
Tools of trade

Arms & accoutrements you’re required to keep

Tools, implements, materials, stock, apparatus, team, motor vehicle, horse & harness to $1000 total
600.6023(1)(a)
600.6023(1)(e)
Wages 60% of earned but unpaid wages for head of household; else 40$; head of household may keep at least $15 per week plus $2 per week per non-spouse dependent; other may keep at least $10 per week

600.5311

Wild Card NONE  
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