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What can I Keep?
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What Can I Keep?

This is a question that requires an in-depth analysis and consultation with OBPC, as the answer will depend on the specific circumstances of each person.

In Michigan, Debtors have a choice to protect certain assets utilizing Federal Exemptions or Michigan Exemptions, if applicable.  Following are some basic examples of the maximum allowed exemptions as of April 1, 2016.

Federal Exemptions

Equity in Personal Residence

$23,675.00 (unused portion up to $11,850.00 or Homestead Examption may be applied to any property –additional “wild card” exemption)

Equity in Motor Vehicle  


Household Furnishings  






Tools of Trade


Unmatured Life Insurance Policies


Life Insurance with cash value


Professional Prescribed Health Aids 



Michigan Exemptions

The Michigan Exemptions provide an unlimited exemption of entireties property* for those married Debtors who do not have any joint debt and a generous homestead exemptions.  Federal Exemptions are generally better for individuals who do not fit into these categories.

*[“Entireties Property” is certain property that is owned jointly by a husband and wife that is not attachable by individual creditors of either spouse.]

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