Tools of the Trade
Many major state bankruptcy exemptions provide protections for a debtor in terms of property they use for their job. Known as “tools of the trade”, these pieces of property must be used directly for a person’s employment in order to count as a part of this exemption. However, as with many other exemptions, the government does put an overall limit on how much a debtor can protect under the tools of the trade exemption.
If you are interested in learning more about what may be considered a “tool of the trade” in a bankruptcy case, it is important to consult an experienced bankruptcy lawyer. Contact Florida bankruptcy attorneys Ryan J. Really, Attorney at Law, PLLC, at (239) 237-0675 to discuss your bankruptcy options with an experienced advisor.
Items Allowed in Ohio Tools of the Trade Exemptions
The state of Ohio sets their own boundaries in terms of tools of the trade exemptions. These bankruptcy protections only extend to a total of $750. This is a total figure, meaning that all property filed under the tools of the trade exemption can only add up to $750. Other exemptions may need to be used in order to protect more expensive items such as computers and animals. The following may be used for the tools of trade exemption in Ohio:
- Instruments and tools
- Working animals
Notary seals are also protected under this exemption, although it is important to discuss their use with an experienced attorney to make sure the exception fits your specific circumstances.
If you have been considering bankruptcy, we can help you with the process from the beginning to the end. To learn more about your options as a debtor, contact Florida bankruptcy lawyer Ryan J. Really, Attorney at Law, PLLC, today by calling (239) 237-0675.