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Burner Prudenti Law Sponsors TBR News Media Salute to Women Issue

We are honored to celebrate Women's History Month by sponsoring the TBR News Media Salute to Women issue. This special issue celebrates the contributions and achievements of women in business.

March 15, 2024
Don’t Fall Over the Estate Tax Cliff

New York State has an estate tax “cliff”, which means that if an estate exceeds 105% of the New York estate tax exemption then the estate will receive absolutely no exemption from New York estate taxes and the entire value of the estate is subject to New York’s estate tax.

January 27, 2021
Do Bank Accounts Have to Go Through Probate?

Whether a bank account must go through probate depends on how the account was held – jointly or in the decedent’s sole name. Like real property, bank accounts can be owned in many ways.

January 7, 2021
Estate and Gift Tax Update for 2021

The 2017 Tax Cuts and Jobs Act (the “Act”) increased the federal estate tax exclusion amount for decedents dying in years 2018 to 2025. The exclusion amount for 2021 is $11.7 million. This means that an individual can leave $11.7 million and a married couple can leave $23.4 million dollars to their heirs or beneficiaries without paying any federal estate tax.

December 2, 2020
Does an Executor have to provide an accounting to beneficiaries?

As fiduciary you are required to account to the beneficiaries, but the type of accounting will vary depending upon the actual beneficiaries and the fiduciary’s relationship with them. There are two types of accounting: informal and judicial accounting.

November 16, 2020
Protecting Assets in the Context of a Guardianship Proceeding

While the best elder law and estate plan is to have a valid health care proxy naming agents and a valid durable power of attorney naming an agent to make financial decisions, not everyone has done the proper planning. It is not uncommon for an elderly person to fall ill, be hospitalized and then need nursing home care with no time to plan.

November 14, 2020
Who Would Inherit From an Estate if Someone Dies Without a Will?

Question: Who would inherit from an estate if someone dies without a will?

October 22, 2020
How to Resign or Decline Being the Executor of a Will

Question: My aunt recently passed away and I just found out that I was named executor of her Will. I really do not want to serve. Is renunciation an option; can I decline or resign from being executor?

October 22, 2020
Avoiding Probate with an Affidavit

When someone in New York State dies with a small amount of money, the family may be able to avoid probate by using a “1310”, or small estate affidavit. This affidavit may be used by certain family members or the decedent’s creditors to collect assets up to a certain value in the decedent’s sole name.

September 14, 2020
Ancillary Probate: What it is and How to Avoid it

Question: My mother is a resident of Florida and owns a condominium and several financial accounts in her sole name. She also owns a summer home in New York that is titled in her sole name. If she were to pass away, what is the procedure to transfer the New York home after her death?

September 11, 2020
Probate Estate v. Gross Estate

Question: Someone told me that assets with named beneficiaries are not subject to estate tax, is that correct?

August 11, 2020

Our Blog

Thought Leadership

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.

January 30, 2023 Read Article

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.

January 4, 2023 Read Article

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.

December 7, 2022 Read Article

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.

November 4, 2022 Read Article

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.

August 29, 2022 Read Article

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.

August 3, 2022 Read Article