In a recent Kansas bankruptcy case, a bankruptcy trustee tried to liquidate the digital photos of a photographer who filed for bankruptcy. The photographer attempted to save the photos under the Kansas tools-of-trade exemption. The exemption allows a debtor to save up to $7,500 in property used by the debtor for their profession or occupation. The bankruptcy court ruled in favor of the photographer, and the photos were safe from liquidation.
If you are thinking of filing for bankruptcy and would like some assistance, contact our office at 816-524-4949 or visit www.Hoorfarlaw.com.