Nevada Bankruptcy Exemptions

Homestead

115.010 & 115.020 - Real property or mobile home up to $550,000. Must record a homestead declaration before filing for bankruptcy (115.020).

Personal Property

21.090 - Motor vehicle up to $15,000 (no limit if equipped for the disabled); household goods, furniture, appliances, home and yard equipment up to $12,000 total; books, jewelry, musical instruments, and works of art up to $5,000 total; pictures and keepsakes; health aids; 1 gun; personal injury compensation up to $16,500; wrongful death awards for survivors; restitution recieved for criminal act; earned income tax credit refunds; stock in certain closely-held corporations; $1,000 of any personal property.

21.100 - Metal-bearing ores, geological specimens, paleontological remains or art curiosities (must be arranged, classified, catalogued, and numbered in reference books).

645B.180 - Mortgage impound accounts.

689.700 - Funeral service contract money and burial plot purchase money held in trust.

Wages

21.090 - The greater of the following: 30 times the federal minimum hourly wage per week or minimum of 75% of disposable weekly earnings. Judge may approve more for low income debtor.

Pensions

11 U.S.C. § 522 - Tax exempt retirement accounts; Traditional and Roth IRAs up the $1,095,000 per person.

21.090 - Up to $500,000 in an IRA, deferred compensation, Roth IRA, or ERISA-qualified benefits.

286.670 - Public employees.

Public Benefits

21.090 - Crime victims' compensation.

422.291 - Aid to blind, aged and disabled; public assistance.

432.036 - Public assistance for children.

612.710 - Unemployment compensation.

615.270 - Vocational rehabilitation benefits.

616C.205 - Industrial insurance (worker's compensation).

Tools of Trade

21.090 - Tools, materials, library, equipment, inventory and supplies up to $10,000; farm trucks, equipment, tools, stock and seed up to $4,500; cabin or dwelling of a miner or prospector, cars, implements and appliances for mining and a mining claim you work up to $4,500; arms, uniforms, and accoutrements you are required to keep.

Insurance

21.090 - Life insurance policy or proceeds if premiums don't exceed $1,000 per year.

687B.260 - Life insurance proceeds if you are not insured.

687B.270 - Health insurance proceeds or avails.

687B.280 - Group life or health policy or proceeds.

687B.290 - Annuity contract proceeds up to $350 per month.

695A.220 - Fraternal benefit society benefits.

Miscellaneous

21.090 - Security deposits on a rental residence. Landlord may enforce the terms of the lease or rental agreement, however.

21.090 - Alimony and child support.

87.250 - Business partnership property.

Other - Add any applicable Federal Nonbankruptcy Exemptions


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This website contains information related to law and is NOT LEGAL advice. It contents is for information only. If you need legal advice, please consult an attorney or act as your own.
All documents typed are prepared by Rica Gilmore.