Michigan is a dual-choice state, meaning you can select **Michigan**-specific exemptions or **federal** exemptions when filing bankruptcy. Below is a summary of **Michigan** exemptions, referencing the **Michigan Compiled Laws** (MCL) and related sources. Always confirm these amounts and interpretations with a licensed attorney, as laws can change or be interpreted differently by the courts.
| Asset / Type of Property | Exemption Description | Statute / Code | Notes |
|---|---|---|---|
| Homestead | Real property (including a condo) up to \$3,500equity; property cannot exceed 1 lot in a town/village/city or 40 acres in a rural area. Surviving spouse or child of deceased owner may claim. TBE (tenancy by the entirety) property may be exempt from debts owed by one spouse only. | MCL 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) | Michigan’s homestead exemption is relatively low compared to federal or some other states. |
| Disability, Mutual Life or Health Benefits | Exempt from attachment/garnishment. | MCL 600.6023(1)(f) | |
| Fraternal Benefit Society Benefits | Fully exempt. | MCL 500.8181 | |
| Life, Endowment, or Annuity Proceeds (Anti-Creditor Clause) | If policy specifically prohibits proceeds being used to pay beneficiary’s creditors. | MCL 500.4054 | |
| Property of Business Partnership | Exempt from individual partner’s creditors. | MCL 449.25 | |
| Firefighters, Police Officers | Exempt pension benefits. | MCL 38.559(6) | |
| ERISA-Qualified Benefits | Generally exempt from attachment/garnishment. | MCL 600.6023(1)(k) | |
| IRAs | Exempt (In re Worthington case for guidance). | MCL 600.6023(1)(l) | Michigan code explicitly includes IRAs as exempt. |
| Judges, Legislators, Probate Judges, Public School Employees, State Employees | Exempt retirement benefits for these categories. | MCL 38.825, 38.1057, 38.925, 38.1346, 38.40 | |
| Appliances, Utensils, Books, Furniture & Household Goods | Up to $1,000 total value. | MCL 600.6023(1)(b) | |
| Building & Loan Association Shares to \$1,000 (in lieu of homestead) | If not claiming a homestead, you can claim these shares up to \$1,000. | MCL 600.6023(1)(g) | |
| Burial Plots, Cemeteries; Church Pew or Seat | Fully exempt. | MCL 600.6023(1)(c) | |
| Clothing; Family Pictures | Fully exempt. | MCL 600.6023(1)(a) | |
| 2 Cows, 100 Hens, 5 Roosters, 10 Sheep, 5 Swine; Hay & Grain for 6 Months (If Head of Household) | Specific agricultural items for sustaining the family. | MCL 600.6023(1)(d) | |
| Food & Fuel to Last 6 Months (Head of Household) | Exempt quantity of food/fuel for half a year. | MCL 600.6023(1)(a) | |
| AFDC | Fully exempt. | MCL 330.1158a | |
| Crime Victims’ Compensation | Fully exempt. | MCL 18.362 | |
| Social Welfare Benefits | Fully exempt. | MCL 400.63 | |
| Unemployment Compensation | Fully exempt. | MCL 421.30 | |
| Veterans’ Benefits for Korean War, Vietnam War, WWII Veterans | Fully exempt. | MCL 35.977 (Korean), 35.1027 (Vietnam), 35.926 (WWII) | |
| Workers’ Compensation | Fully exempt. | MCL 418.821 | |
| Arms & Accoutrements You’re Required to Keep | Fully exempt for service members. | MCL 600.6023(1)(a) | |
| Tools, Implements, Materials, Stock, Apparatus, Team, Motor Vehicle, Horse & Harness to \$1,000 total | **\$1,000** total for items used in trade or profession. | MCL 600.6023(1)(e) | |
| Wages | 60% of earned but unpaid wages for head of household; otherwise 40%. Head of household keeps at least **\$15/week** + **\$2/week** per non-spouse dependent; others keep at least **\$10/week**. | MCL 600.5311 | Exemption formula can be complicated; consult an attorney for precise calculations. |
| Wildcard | None specified under Michigan law. | -- |
This information is for educational purposes only and does not constitute legal advice. Exemption amounts and statutes may be updated or interpreted differently by courts. Always consult a licensed Michigan bankruptcy attorney or refer to the official Michigan Compiled Laws to confirm exact amounts and current applicability.