Legal Question in Native American Law in Nevada

can ones 401k be taken by the court to pay creditors in a personal bankruptcy in Nevada?

Asked on 2/02/11, 10:06 pm

1 Answer from Attorneys

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A 401K plan can only be taken by the bankruptcy court to pay your creditors if you should fail to properly exempt the benefit. Under NRS 21.090(1), retirement benefits are exempt up to $500,000.

BTW, I would have answered this question much sooner if it had been posted under Bankruptcy instead of Native American law.

Hope this perspective helps!

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4/19/11, 12:27 pm

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