Estate Planning and Elder Law Blog

What Every Spouse Needs to Know About Estate Taxes

The changing estate tax landscape makes it more important than ever for accountants and executors to file a federal estate tax return for portability when one spouse passes away. The 2017 Tax Cuts and Jobs Act doubled the lifetime estate and gift tax exclusion for decedents dying between 2018 and 2025. The estate tax exemption…

Read More...

Can a Trustee be Removed for Ignoring the Beneficiary?

Removing a Trustee is not easy. Removal of a Trustee takes more than a disagreement or general mistrust of the fiduciary to have him or her removed. General unresponsiveness is not a ground, on its own, for removal. New York’s Surrogate’s Court Procedure Act § 719 lists several grounds for the removal of a Trustee….

Read More...

Nancy Burner, Britt Burner and Kera Reed included in the 2022 Edition New York Area’s Best Lawyers List

Nancy Burner, Esq., for the eighth consecutive year, has again recognized by Best Lawyers by her peers in the practice areas of Elder Law and Trusts and Estates. Nancy  has been recognized in The Best Lawyers in America© since 2014 for Elder Law. She was named the Best Lawyers® 2020 Elder Law “Lawyer of the…

Read More...

Medicaid Tips: Community Budgeting – How a Nursing Home Resident Can Keep $904 instead of $50 per month

Chronic Medicaid is a needs-based benefit that will cover room and board in a nursing home. When an individual is approved for Chronic Medicaid, the local Department of Social Services (DSS) determines the net available monthly income contribution (or “NAMI”). This is the monthly amount that the Medicaid recipient must pay to the nursing facility….

Read More...

Protecting Retirement Assets After the Secure Act

On December 20, 2019, a Federal law relating to retirement plans was enacted, entitled Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act). The law was implemented on January 1, 2020 and impacts retirement accounts and the rules for those who own and inherit them. Traditionally, individuals with retirement accounts enjoyed tax-deferred…

Read More...

Do Grandchildren Have Inheritance Rights?

Grandchildren do not have automatic inheritance rights except under certain circumstances. In New York, the most common scenario where a grandchild may inherit is when a grandparent passes away without a Will and the grandchild’s parent is no longer living. This intestate succession is controlled by statute and passes down the bloodline. Pursuant to the…

Read More...

Burner Law Group, P.C. featured in East Hampton Star

In celebrating our new East Hampton office opening, our friends at the East Hampton Star wrote an article about the firm and the importance of estate planning especially during the pandemic. Thank you East Hampton Star! Click here to read the article.

Read More...

Is a Beneficiary of a Will Entitled to an Accounting?

Any beneficiary of an estate is entitled to an accounting from the executor or administrator of the estate. This is true whenever assets  pass through Surrogate’s Court. The individual providing the accounting is the Executor appointed under a Will or the appointed Administrator when someone dies without a will. Of course, if no assets pass…

Read More...

Using a Durable Power of Attorney in Medicaid Planning

Medicaid will pay the long-term care needs for individuals who meet certain income and asset criteria. This means that Medicaid will pay the high cost of home care or nursing home care for seniors. Since Medicaid is a means tested program, many people believe that they cannot access benefits. This common misconception results in people…

Read More...

Letters of Trusteeship

“Letters of Trusteeship” is a court document giving the nominated trustee of a trust created under a Last Will and Testament (“Will”) the power to act. Such a trust is called a testamentary trust because it is created in a Will. When a Will is submitted to the Surrogate Court for probate, via the filing…

Read More...

Posts

Scroll to Top