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.

ASSETEXEMPTIONLAW
Nevada HomesteadReal property or mobile home to $550,000115.010; 21.090(1)(m)
WagesMinimum 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 debtors21.090(1)(g)
AutomobileUp to $15,000 (no limit if equipped for disabled person)21.090(1)(f), (p)
Other propertyGroup life or health policy or proceeds687B.280
Alimony and child support21.090(1)(s)
Appliances, household goods, furniture, home and yard equipment to $12,000 total21.090(1)(b)
Furniture, household goods and appliances, household electronics, personal computers, books, and musical instruments to $1,50025-1556(3)
Health aids21.090(1)(q)
Burial plot purchase money held in trust689.700
Library, equipment, supplies, tools, inventory, and materials used as tools of trade to $10,00021.090(1)(d)
Wildcard$1,000 of any personal property21.090(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.

Back to all State Bankruptcy Exemptions
Go to Complete State of Nevada bankruptcy exemptions laws.

Nevada Bankruptcy Court links :

*The use of partners trademarks are not intended to imply endorsement of these products.

Ready to Start? Call us at 1(888)214-7773