Burke & Casserly, P.C. Answer New York Asset Protection Law Questions What is asset protection? New York Asset Protection Law Questions Are there techniques available to reduce or avoid estate taxes? Are there things I can do to protect my existing business? Are there ways to protect my assets other than using a trust? Can a retirement plan protect my assets? Can I transfer my assets to my children just before I go into a nursing home and still qualify for Medicaid? Do I have to employ asset protection for all types of assets? Does a small business (subchapter S) corporation give me the same protection as a limited liability company (LLC)? How can I avoid being impoverished by the high cost of nursing home care? How can I protect my house in New York? How can I remove assets from my estate without being subject to estate or gift taxes? How much do nursing homes cost? How much income can I make and still qualify for Medicaid? I am considering a trust to protect my assets from taxes. Can a trust lower my federal estate tax liability? I heard I can give away $10,000 and not have any problems. Is that true? I heard Medicaid can take our house for reimbursement. Is that true? If I am in a nursing home, is it too late to give away my assets and qualify for Medicaid? If my spouse is going into a nursing home, can they transfer all of their assets to me and qualify for Medicaid? Is asset protection only for the wealthy? Is it possible that I may need more than one limited liability company (LLC)? Is it true that, for tax purposes, it is better to be a subchapter S corporation than a limited liability company (LLC)? Should I just give all of my assets to a relative to hold for me? What are some risks involved in engaging in an asset protection plan? What are some risks involved in using an asset protection trust? What are the income, estate, and gift tax consequences of a life insurance trust? What are the income, estate, and gift tax consequences of an asset protection trust made for Medicaid planning purposes? What is a life insurance trust? What is an asset protection trust? What is asset protection? What is joint tenants with right of survivorship? What is Medicaid? What is offshore planning? What is tenants by the entirety? What is tenants in common? What protection is available through a family limited partnership? What protection is available through a general partnership? What should I do if I have concerns about my business partners' exposure to creditors? What techniques can I use to protect my business property? When should I start asset protection planning? Who needs to engage in asset protection planning? Why do I need help obtaining Medicaid coverage? Can I just submit the application? Will a limited partnership (LP) or limited liability company (LLC) protect my assets? Will a professional corporation (PC) protect my assets in New York? Will Medicare pay for my nursing home costs? Would a revocable living trust provide protection for my assets?

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