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State vs. Federal Exemptions

Michigan residents have the option of choosing either the state or federal exemptions, but the choice sometimes requires careful consideration. What are the differences between the state and federal exemptions? How do they impact the debtor? How do you determine which set of exemptions is the best option for your client? After a selection has been made, can you change your mind? How late is too late to amend exemptions? What are the best practices for handling objections to exemptions? How do you value property in rising markets? How does Law v. Siegel and its progeny affect your ethical obligations in advising clients about exemptions?

Hon. Steven W. Rhodes Consumer Bankruptcy Conference
2019
Bankruptcy Rules: 
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