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What if I Don’t Want to Be an Executor?
You can renounce your right as Executor and decline to act by simply signing a Renunciation of Nominated Executor form in front of a notary.
Clients often ask this question and our answer is always the same, no matter how your property is titled it is still necessary to have a comprehensive Power of Attorney document in place. A Power of Attorney is a document in which a person (the Principal) can designate an Agent (an Attorney-in-Fact) to act on his or her behalf with respect to financial or legal matters.
Assuming your father meets the asset requirements for Medicaid, his income will not hinder his ability to qualify for Medicaid benefits. More importantly, he will be able to receive the homecare benefits without losing his monthly income.
This week’s column is a continuation of our column from last week where we answered questions regarding tax-deferred annuities, the different types and the tax benefits and consequences of purchasing or owning one. Included in the questions posed last week was “what are the Medicaid implications for the owner of an annuity.”
As an Elder Law attorney, many clients consult with me with regard to trust planning to protect assets from the cost of long term care. However, many clients do not realize trusts can also be used to protect assets for your children.
For every IRA you should complete a beneficiary designation form. Keep a copy of the form(s) among your important papers. Do not rely on the financial institution to keep copies.
Individuals who have received benefits under the New York State Medicaid program are subject to estate recovery for all assets passing through their probate estate. This is a minimum requirement under Federal Law.
The fact that your aunt has a diagnosis of Alzheimer’s disease, does not necessarily mean that she cannot execute a power of attorney. While it may seem like a decision to be made by her doctor, it is actually the lawyer who will determine if she or he feels your aunt has capacity.
In The Media
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Burner Prudenti Law Ranked as a 2025 Tier 1 Elder Law Firm by Best Lawyers
Burner Prudenti Law was recognized as a 2025 Tier 1 law firm in elder law and trusts and estates by Best Lawyers!
November 6, 2024 -
Burner Prudenti Law Featured in Forbes & Fortune
Learn more about the history and vision of Burner Prudenti Law in this recent Forbes & Fortune article.
November 4, 2024 -
Six Burner Prudenti Law Lawyers Recognized as Super Lawyers and Super Lawyers Rising Stars
We are proud to announce that six of our lawyers have been recognized by Thomson Reuters as 2025 Super Lawyers and Super Lawyers Rising Stars for the New York Metro area.
October 24, 2024 -
Burner Prudenti Law Named South Fork’s Best Law Firm for the Fifth Year in a Row
Our reputation among our peers, our clients, and within the larger community means everything to us, making local recognitions like this one so special.
August 27, 2024 -
Burner Prudenti Law Lawyers Recognized as 2025 Best Lawyers and Best Lawyers: Ones to Watch
Burner Prudenti Law is proud to announce that seven of our lawyers were named either a 2025 Best Lawyer or a Best Lawyer: One to Watch for their respective practice areas.
August 15, 2024 -
Burner Prudenti Law Partner Britt Burner, Esq. Begins 2024-2025 Term As Chair Of The New York State Bar Association Elder Law And Special Needs Section
July 17, 2024
Our Blog
In this guest post by Maria Torroella Carney, MD, FACP, learn what contributes to aging and what can be done to encourage healthy aging.
The Connelly vs. IRS ruling has significant implications for buy-sell agreements and corporate redemptions.
Partner Britt Burner, Esq. explains how often to review your estate planning documents and the life changes that may prompt a review.
According to multiple published reports, comedian Jay Leno is asking a California court to grant him authority over the financial affairs of his wife Mavis, who is apparently suffering from severe dementia.
In his first Law Day address, New York’s Chief Judge complained of the steady erosion of civics knowledge, and the resultant decline in civility, warning that, “The Framers knew that the consequence of constitutional ignorance, and being guided by passion rather than reason, was armed mobs.”
In this season of gratitude, it’s appropriate to recall the “four freedoms” — freedom of speech, freedom of worship, freedom from fear, and freedom from want — articulated by President Franklin D. Roosevelt at the threshold of World War II and illustrated so memorably in Norman Rockwell’s iconic renditions.