Probate and Estates

Do You Need a Life Insurance Trust?

By Burner Prudenti Law, P.C. / January 30, 2023 / 0 Comments

An Irrevocable Life Insurance Trust (“ILIT”) is a valuable estate planning tool used to reduce estate taxes – known as death taxes during an election year. Whether you need an ILIT depends on how much your assets are worth now or what your potential net worth is in the future. Some benefits of an ILIT […]

Read More

Does an Executor Need to Hire an Attorney?

By Burner Prudenti Law, P.C. / January 4, 2023 / 0 Comments

Whether an executor needs to hire an attorney depends on the type of assets, size of the estate, family dynamics, estate tax considerations, and outstanding bills. As a fiduciary, an executor can be held accountable for any gross negligence, waste or mismanagement of the estate.  Therefore, not only does serving as executor requires a significant […]

Read More

How to Collect on Life Insurance Proceeds

By Burner Prudenti Law, P.C. / December 7, 2022 / 0 Comments

Most people do not realize that a Will likely does not control who collects on a life insurance policy. The beneficiary named on the policy supersedes the Will. So long as the policy owner correctly designated a beneficiary on the policy, that designation controls. If you are the primary beneficiary If you are the primary […]

Read More

Drama Free Ways to Disinherit a Child

By Burner Prudenti Law, P.C. / November 4, 2022 / 0 Comments

In New York State, a parent has no obligation to leave an inheritance to a child. Many other countries have “forced heirship” which prohibits parents from disinheriting children, but Louisiana is the only US state with such a law. In New York, the only relative who cannot be disinherited is a surviving spouse. The surviving […]

Read More

What is Portability?

By Burner Prudenti Law, P.C. / August 29, 2022 / 0 Comments

The word is defined as “the ability to be easily moved,” but in the context of Trusts & Estates, it means much more. In this regard, portability is one of the strongest tools in the planner’s toolbox to reduce or eliminate federal estate taxes after the deaths of a married couple. Federal Estate Tax Exemption […]

Read More

What is Surrogate’s Court in New York?

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

Surrogate’s Court hears cases involving the affairs of decedents, the probate of wills, and the administration of estates. The Surrogate’s Court also handles certain types of guardianship petitions and adoptions. Every county in the State of New York has a Surrogate’s Court. When a person dies with a Will (testate), the nominated executor must file […]

Read More

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

By Burner Prudenti Law, 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 […]

Read More

What is a Small Estate Proceeding?

By Burner Prudenti Law, P.C. / July 1, 2022 / 0 Comments

Not all estates require a probate or full administration proceeding in New York State. A small estate proceeding, also known as a Voluntary Administration, is a simplified Surrogate’s Court procedure. Voluntary Administration is available if the decedent died with or without a Will. What Estates Qualify for a Small Estate Proceeding? Under Article 13 of […]

Read More
street sign intersection of myths and facts

Debunking Myths Surrounding Probate

By Burner Prudenti Law, P.C. / May 11, 2022 / 0 Comments

The legalities surrounding a Last Will and Testament stem from Roman times, when six witnesses affixed their personal seals to a Will. The Will was later validated by examining these seals to make sure they remained intact. Today, we use staples instead of seals, but because the Probate process remains so formal, many misconceptions exist. […]

Read More
two wedding rings on a table

Rights of a Surviving Spouse

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

Pursuant to New York State law, you cannot completely disinherit a spouse. A surviving spouse at the time of a decedent’s death has a statutory right to inherit an “elective share” of the deceased spouse’s assets. A surviving spouse may elect against the deceased spouse’s estate in an amount up to $50,000 or one-third of […]

Read More
Scroll to Top
Schedule a Consultation