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Estate Planning Considerations When Helping Your Child Buy a Home
As home prices continue to rise, many parents are helping their adult children purchase their first homes. Many parents do not realize that this type of financial assistance can have estate planning implications.
While no document is completely immune to a legal challenge, a Trust offers meaningful advantages over a traditional Will.
Because retirement accounts can often represent a significant portion of a family’s wealth, but also come with tax implications and distribution guidelines that are beneficiary dependent, beneficiary designations should be reviewed whenever an estate plan is created or updated.
When a person passes away in New York state with assets that are solely in her name, a legal representative needs to be appointed to manage her estate. The Surrogate’s Court of the county where that person lived prior to their death appoints these representatives and grants them authority to act.
Most see parenthood as a lifelong role, one that even survives death. A tailored estate plan can foster stability despite life’s unpredictability.
Depending on your goals, it may make sense to transfer ownership of your whole life policy to a trust. Transferring ownership of a policy to a trust can support long-term care planning, estate tax planning, creditor protection, probate avoidance, and control over when beneficiaries receive death benefit proceeds.
Families are often shocked to learn that a single missing provision in a Power of Attorney can completely change their options during a nursing home crisis.
While no two estates are the same, especially when the courts are involved, understanding the different steps of the process can give you an idea of what to expect and how significant your time investment may be.
When a party to a lawsuit dies, the court with jurisdiction over the lawsuit should pause the action until a representative is appointed for the decedent's estate.
A trust may contain the correct tax provisions, beneficiary protections, and fiduciary instructions, but the plan only works if the right assets are actually connected to the trust.
While guardianship may be appropriate in certain cases, it is a court-supervised process that can limit an individual’s ability to make decisions. As a result, alternatives are often considered where appropriate.
In The Media
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2017 Super Lawyer Honors Attorneys from Burner Law Group, P.C.
Please join us in congratulating Nancy Burner, Esq. on her 10th Super Lawyer achievement. For ten years, Super Lawyers has recognized Nancy for her outstanding legal achievements.
September 27, 2017 -
Britt Burner, Esq. Named as One of Hofstra’s Outstanding Women in Law for 2017!
Britt Burner, Esq. has been selected by Hofstra University School of Law and the Center for Children, Families and the Law in partnership with Long Island Business News as an Outstanding Woman in Law for 2017.
May 5, 2017 -
Nancy Burner & Associates, P.C. Attorneys Named on the 2016 New York Super Lawyers list
We are pleased to announce that Nancy Burner, Esq. has been selected to the 2016 New York Super Laywers list for a ninth year. Additionally, Britt Burner, Esq. and Robin Daleo Burner, Esq. have been honored as Super Lawyers Rising Stars for the second year in a row.
October 5, 2016 -
Nancy Burner, Esq. Announced as 2016 Brava Award Winner
SmartCEO selected Nancy Burner, Esq. as a 2016 Brava Award winner. The Brava Awards celebrate the distinguished achievements of 40 of Long Island’s top women business leaders. The 2016 Brava Award winners collectively generate more than $10.39 billion in annual revenue and employs 8,149 individuals.
July 28, 2016 -
Britt Burner, Esq. named as one of Star Network’s Stars Under 40!
The Star Network has honored 40 young professionals including our attorney Britt Burner, Esq. in Brooklyn under 40 years old who exemplify outstanding leadership skills, not only in their chosen fields, but also in their community.
June 21, 2016 -
Nancy Burner, Esq., 2016 Big Apple Entrepreneur Award Winner
The Big Apple Entrepreneur Network & Manhattan magazine announce Nancy Burner, Esq. as one of the inaugural winners of the 2016 BIG APPLE ENTREPRENEUR AWARDS.
May 18, 2016
Our Blog
Modern legal practice is poised at the intersection of tradition and transformation with lawyers and firms struggling to fit the square pegs of ancient doctrines and procedures into the round holes of globalization, technology and economic shifts.
We’re proud to share that our Partner, Hon. Gail Prudenti, has written a featured column for Long Island Business News titled “Understanding New York’s Court of Claims.”
In the landmark case of Connelly v. United States, the Supreme Court addressed critical issues concerning the estate tax implications of life insurance proceeds used in the redemption of stock in closely held corporations.
Our criminal courts protect victims. Our civil courts provide a forum for the peaceful resolution of disputes. Our family and surrogate’s courts guide families through what may be the most traumatic experience of their lives.
As we reflect on the complexities of family law, let us work together to support our justices, understanding the weight of their responsibilities and the importance of their decisions.
The Medicaid Asset Protection Trust (“MAPT”) is alive and well in the Elder law practitioner’s toolbox and is the best option for protecting real property.
