Legal Question in Wills and Trusts in Nevada

Are Retirement assets vulnerable to Law Suits?

Qualified pensions & retirement plans are exempt from being taken due to a judgment from a lawsuit or other claim, up to $500,000. As long as you assert your rights to the pension, NO creditor can take your retirement money. Most pensions DO qualifY because they meet complex federal tax criteria & all of yours easily meet that criteria. You can even keep these retirment accounts and file bankruptcy! Aren't you glad you asked & please stop worrying. If you have more than half a million bucks in your retirement, it would be worthwhile to spend the money to consult with an estate planning attorey.

Re: How do I protect my retirement assest from Law Suits.

Thr reply by Dorothy Bunce is correct. NRS 21.090 discloses the retirement exemption here: http://www.leg.state.nv.us/NRS/NRS-021.html#NRS021Sec090

Specifically, the procedure is set forth here:

http://www.leg.state.nv.us/NRS/NRS-021.html#NRS021Sec112

The other suggestions about estate planning are also sound. Avoid probabte and create spendthrift trusts for your heirs who may have creditor, tax or ex-spouse problems which can threaten their inheritance.

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Paul J. Malikowski, Esq. Malikowski Law Offices, Ltd.

333 Flint Street Reno, Nevada 89501

Post Office Box 9030 USA fax and voicemail: (800) 331-9501

Reno, Nevada 89507-9030 Reno voice: (775) 786-0758

California & Nevada - 1979

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