BizFilings Logo

Nevada Asset Protection Laws

Fact checked on April 22, 2012.

Article Tools

These assets are exempted from a state court or bankruptcy proceeding in Nevada.

Homestead: Real property, including mobile homes, up to $550,000. Cannot double. Must record homestead exemption before filing bankruptcy action.

Pensions and Retirement Benefits: ERISA-qualified plans and IRAs (conventional, SEP and SIMPLE) up to $500,000. Funds exempt for public employees.

Insurance: Fraternal society benefits. Life insurance benefits exempt to the extent the annual premium is no more than $1,000. Group life and health. Annuity payments up to $350 per month, unless larger amount needed for support.

Personal Property: Private libraries up to $5,000. All family pictures, keepsakes and household goods up to $12,000. Certain prescribed health aids. Motor vehicles up to $15,000. One gun. A collection of metal-bearing ores, geological specimens, art curiosities or paleontological remains if catalogued for free inspection of visitors, and all property held in a spendthrift trust; excludes coin collections.

Tools of Trade: Uniforms required by law. Farm equipment, stock & supplies up to $4,500. Other trade implements up to $4,500. Mining equipment up to $4,500.

Miscellaneous: Business partnership property.

Wages: Exempt as to greater of 75% of disposable earnings or 30 times federal minimum wage.

Public Benefits: Unemployment compensation. Workers' compensation. Aid to disabled, blind and aged. AFDC. Vocational rehabilitation benefits.

Wild Card: $1,000 of any property.

Article Tools

blog comments powered by Disqus