Exempt Assets in Las Vegas
NRS 21.090 Property Exempt from Execution
- Private libraries, art, instruments, and jewelry (Up to $5,000) and all family keepsakes (example: wedding ring)
- Household goods, furnishings, clothing, electronics (Up to $12,000)
- One vehicle (equity up to $15,000)
- 75 percent of disposable income (disposable income is defined as income after deductions).
- One firearm
- Life Insurance benefits
- Home (up to $550,000)
- Rental security deposit
- Any prosthesis or medical devices
- Funds (up to $500,000), if obtained through:
- Pension Plan
- Cash Deferment (examples: cafeteria plan or health care flexible spending account)
- Stock bonus, pension or profit-sharing plan
- 529 College Saving Plans (unless the money is deposited after the entry of a judgment)
- Child support payments
- Alimony payments
- Personal Injury Compensation (up to $16,150, but not including pain and suffering or actual pecuniary losses)
- Payment received for wrongful death
- Social Security payments
- Money, stocks, bonds, or other funds (up to $1,000)
- Tax refund that is from the Earned Income Credit (benefit for certain people who work and have low to moderate wages. A tax credit means more money in your pocket. It reduces the amount of tax you owe and may also give you a refund.)
- Money for funeral or burial services
- Unemployment compensation
- Benefits from Public Employee`s Retirement System
- Public assistance funds
- Child welfare assistance from a governmental entity
To see an entire list of exempt assets see NRS 21.090.
Van Law Firm has helped many in the Las Vegas and Henderson community with foreclosure, short sale, bankruptcy, debt settlement, loan modification, and personal injury.
Please feel free to contact us today so that we may discuss the options that are available to you.
Call Van Law Firm at 702-529-1011.