HD 38529 is a post-main sequence G8III/IV star ( 3.5 Gyr old ) with a planetary system consisting of at least two planets having \it { M } sin \it { i } of 0.8 M _ { Jup } and 12.2 M _ { Jup } , semimajor axes of 0.13 AU and 3.74 AU , and eccentricities of 0.25 and 0.35 , respectively . \it { Spitzer } observations show that HD 38529 has an excess emission above the stellar photosphere , with a signal-to-noise ratio ( S/N ) at 70 \mu m of 4.7 , a small excess at 33 \mu m ( S/N=2.6 ) and no excess < 30 \mu m. We discuss the distribution of the potential dust-producing planetesimals from the study of the dynamical perturbations of the two known planets , considering in particular the effect of secular resonances . We identify three dynamically stable niches at 0.4–0.8 AU , 20–50 AU and beyond 60 AU . We model the spectral energy distribution of HD 38529 to find out which of these niches show signs of harboring dust-producing plantesimals . The secular analysis , together with the SED modeling resuls , suggest that the planetesimals responsible for most of the dust emission are likely located within 20–50 AU , a configuration that resembles that of the Jovian planets + Kuiper Belt in our Solar System . Finally , we place upper limits ( 8 \times 10 ^ { -6 } lunar masses of 10 \mu m particles ) to the amount of dust that could be located in the dynamically stable region that exists between the two planets ( 0.25–0.75 AU ) .