Estate Planning

Small Business Decisions: Should My LLC be an S-Corporation?

By Burner Law Group, P.C. / September 23, 2022 / 0 Comments

The limited liability corporation, or LLC, is designed to combine the flexibility and simplicity of a basic partnership with the protection of a corporation. “LLC” stands for “Limited Liability Company” and owes its name to the fact that the members (owners) of the LLC are not personally liable for the debts and liabilities of the […]

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Estate Planning with Adult Children

By Burner Law Group, P.C. / August 3, 2022 / 0 Comments

Question: My spouse and I completed our estate planning with an attorney. In our planning, we left our legacy to our adult children. Should they have their own estate planning? Answer: Yes, they should have their own estate planning documents for several reasons. Each adult child should have their estate planning documents to dictate the […]

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What steps should I take with my loved one’s estate and my own planning?

By Burner Law Group, P.C. / July 20, 2022 / 0 Comments

Whenever a loved one passes, especially one that was depended on, it is often difficult for one to even consider the next steps, yet alone know what those steps are. To start, there will be two professionals you’ll want to seek professional advice from. One is a Trust and Estates Attorney who can help review […]

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How Often Should I Update My Financial & Legal Documents?

By Burner Law Group, P.C. / July 8, 2022 / 0 Comments

You should be checking on your accounts as often as you review your estate plan. In general, we recommend an estate plan review every three to five years. Any change in life circumstances or family, or changes in the law, will warrant a review of your plan as well. The proper titling of your accounts […]

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sticky note that says tax season

Tax Season is the Perfect Time for Estate Planning

By Burner Law Group, P.C. / April 6, 2022 / 0 Comments

Spring is here and so is tax season. The income tax filing deadline this year is April 18, 2022. You have likely been gathering your documents or filing an extension. Since you are already working on putting your affairs in order, this is the perfect time to finally check estate planning off your to-do list.  […]

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attorney and her client in consultation

What to Expect at Your Estate Planning Consultation

By Burner Law Group, P.C. / March 2, 2022 / 0 Comments

An estate planning consultation is not everyone’s idea of a good time. In some cases, people have put off estate planning for years – if not decades. Discussing the taboo triad of aging, death and money makes people uncomfortable. Yet, there is nothing morbid about planning for the future.  Clients tell us that checking estate […]

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NFT written on three dice and computer chip

Non-Fungible Tokens in Your Estate Plan

By Burner Law Group, P.C. / February 25, 2022 / 0 Comments

Although cryptocurrencies like bitcoin have gone mainstream, non-fungible tokens (NFTs) were relatively unknown until 2021. You may have heard about “Bored Apes” worth tens of thousands of dollars, “CryptoKitties” breeding,  or artist Beeple selling an NFT for $69 million through Christies auction house. And what about the billionaire Twitter founder selling his tweet? If you […]

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How the SECURE Act Affects Your Retirement Account

By Burner Law Group, P.C. / February 11, 2022 / 0 Comments

On January 1, 2020, as we entered another year without any idea of what was on the horizon, a new federal law took effect regarding retirement accounts. The SECURE Act, “Setting Every Community Up for Retirement Enhancement”, affects millions of Americans who have been saving through tax-deferred retirement plans.  The biggest impact falling those set […]

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What makes a will valid in New York?

By Burner Law Group, P.C. / January 21, 2022 / 0 Comments

A Last Will and Testament allows you to direct where your assets go at your death and who will be legally in charge of the estate. New York law sets forth specific requirements for a legally valid will. Failure to follow such requirements will result in the Surrogate’s Court rejecting the Will as invalid.  In […]

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Who owns the property when there is a life estate?

By Burner Law Group, P.C. / January 5, 2022 / 0 Comments

An ownership interest in real property is a combination of a bundle of different rights, the rights to possession, use, transfer, encumber and exclude. A life estate is a type of joint ownership of real property with ownership “split” between a present interest and a remainder interest. The individual holding the life estate – the […]

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