We are married and living in our primary residence which is paid off and valued ~$570K. Our house and other assets are all owned by our revocable Living Trust. We have never filed a Homestead Exemption in Nevada, but recently friends have told us we should do this to protect the equity in our home.... Read more »
Nevada homestead exemption protects the equity in your primary residence (w/ proper homestead filing) up to $550K- cheap & easy protection! A revocable living trust typically does not provide ANY asset protection to the creators of the trust, so it's probably wise to file your homestead....Read more »
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.