In the event you do not have a trust and/or asset protection LLC, Nevada law provides some protection of your assets. If you want real protection, get a trust or asset protection LLC well in advance of entering any risky business relationships and/or exposing yourself or your companies to suit.
Without a trust/asset protection LLC, below is a list of what is protected under Nevada law:
1. ERISA-qualified retirement plans.
2. Federal pensions/pension plans.
4. Social security.
5. Military pensions.
6. IRAs & non-qualified plans up to $500,000.
7. Homestead on your 1 home up to $550,000.
8. Life Insurance (Up to its cash value, which is now unlimited as of July 1, 2011 in NV); and
9. Certain annuities.
In addition, the following assets are FULLY EXPOSED:
1. CDs (certificates of deposit); and
2. Bank accounts.