Asset Protection
Tools of the trade and Implements of Husbandry
In Texas, all tools, equipment, apparatus and books used in a trade or profession and all implements of farming and ranching are exempt.
In Oklahoma, Kansas and Missouri, tools, apparatus and books used in any trade or profession and implements of husbandry are exempt to the extent of $10,000, $7,500 and $3,000, respectfully, per person.
The term “husbandry” refers to the cultivation of crops and breeding and raising livestock while the term “farm” refers to the cultivation or production of crops.
However, the individual must own or lease a rural homestead in order to be entitled to the use of the implements of husbandry exemption.
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