Nevada is one of a few states which allows married couples to double the amount of their exemptions in bankruptcy. What this means is that married couples can keep twice as much property out of the hands of creditors.
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Bankruptcy Estate
What Property will I lose if I file Bankruptcy?
When you file for Chapter 7 bankruptcy everything you own is temporarily not yours. Your property becomes part of the “bankruptcy estate” which means it is subject to the bankruptcy court’s authority. While much of your property will be exempt, there are certain common categories of property which will be lost by filing bankruptcy.
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