How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Phillips Esq. Your Own Question
Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Bankruptcy Law
Satisfied Customers: 19634
Experience:  B.A.; M.B.A.; J.D.
Type Your Bankruptcy Law Question Here...
Phillips Esq. is online now
A new question is answered every 9 seconds

Under chapter 7, is my 401k valued at $200,000 , my defined

This answer was rated:

Under chapter 7, is my 401k valued at $200,000 , my defined benefit pension from teamsters that i'm vested in but not drawing yet and my roth IRA valued at $40,000 considered exempt property in nevada ? Thanks for any help you can provide.
Yes, both the 401k and Roth IRA would be considered exempt. See Nevada Revised Statutes section 21.090(1)(r), 286.670; 21.080; 21.100.
Customer: replied 8 years ago.
does that exemption include my defined pension from the Teamsters that I am vested in but not yet drawing?
Than ks

Yes, sorry about that. I thought the 401k was also your pension. See NRS section 21.090(1)(r):


Phillips Esq. and other Bankruptcy Law Specialists are ready to help you