Nevada Bankruptcy Exemptions
The chart below contains a summary of Nevada state bankruptcy exemptions and other relevant statutory laws. Click here for complete State of Nevada bankruptcy exemptions laws.
Note: Federal bankruptcy exemptions are not available.
Personal exemptions allowed by Nevada Bankruptcy Laws
Note: Under the 2005 bankruptcy law, almost all types of tax-exempt retirement accounts are exempt in bankruptcy whether state or Federal exemptions are used. Exemptions for 401(k)s, 403(b)s, profit-sharing and money purchase plans, and defined benefit plans include the entire account amounts. However, with traditional and Roth IRAs, the exemption is limited to a total value of $1,171,650 per person for all accounts held by the debtor (not per account). The total value amount is adjusted every three years for inflation. The relevant statutes: 11 U.S.C. §522(d)(12) for Federal bankruptcy exemptions; 11 U.S.C. §522(b)(3)(C) for state bankruptcy exemptions.
|Nevada Homestead||Real property or mobile home to $550,000||115.010; 21.090(1)(m)|
|Wages||Minimum 75% of disposable weekly earnings or 50 times the Federal minimum hourly wage per week (whichever is greater). Bankruptcy judge may authorize more for low-income debtors||21.090(1)(g)|
|Automobile||Up to $15,000 (no limit if equipped for disabled person)||21.090(1)(f), (p)|
|Other property||Group life or health policy or proceeds||687B.280|
|Alimony and child support||21.090(1)(s)|
|Appliances, household goods, furniture, home and yard equipment to $12,000 total||21.090(1)(b)|
|Furniture, household goods and appliances, household electronics, personal computers, books, and musical instruments to $1,500||25-1556(3)|
|Burial plot purchase money held in trust||689.700|
|Library, equipment, supplies, tools, inventory, and materials used as tools of trade to $10,000||21.090(1)(d)|
|Wildcard||$1,000 of any personal property||21.090(1)(z)|
Note: While this reference information is current as of August 2010, it may not reflect the most up-to-date exemption figures on official state of Nevada bankruptcy court statutes.