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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.

ASSET EXEMPTION LAW
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)
Health aids 21.090(1)(q)
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.

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Go to Complete State of Nevada bankruptcy exemptions laws.

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