Asset Strategies

Learn more about protecting your personal and company assets.

Nebraska Asset Protection Laws

These assets are exempt from a state court or bankruptcy proceeding in Nebraska.

Homestead: Real property up to $60,000, cannot exceed 160 acres rural or two urban lots. Sale proceeds exempt for 6 months after sale.

Pensions and Retirement Benefits: ERISA-qualified plans needed for support. Funds exempt for county, state and school employees, and military disability benefits to $2,000. IRA exemptions for conventional, Roth, SEP and SIMPLE plans. No IRA protection for plans that were established within two years of bankruptcy, and limited to amounts that are reasonably necessary for support of debtor and dependents. Roth IRAs and regular IRAs up to $1,095,000 per person.

Insurance: Fraternal benefit society benefits to $100,000. Unmatured life insurance contract with loan or cash values up to $100,000.

Personal Property: Clothing, furniture and kitchen utensils up to $2,500. Perpetual care funds. Recovery for personal injury. Burial place. Food and fuel for 6 months.

Tools of Trade: Tools and implements up to $2,400.

Miscellaneous: Business partnership property.

Wages: Minimum 85% of earned but unpaid wages or pension payments for head of family, otherwise 75%.

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

Wild Card: $2,500 of any personal property if homestead is not claimed. Cannot be used for wages.

Category : Running A Business
Tags :
Load more comments
Thank you for the comment! Your comment must be approved first
New code

Need Help?

Our experts are always available M-F 8:00-7:00 CT.


20% off ADP Payroll Services

Manage your cash flow with ADP's payroll service. Includes direct deposit, tax filing, and general ledger interface.

$25 off Logo Creation
With CrowdSPRING

Get a custom logo for your business sourced from dozens of designs created by a network of professional artists.