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2024 Strategies for Long-Term Care Planning in New York
With 10,000 baby boomers turning 65 every day, long-term care planning has become an increasingly important issue across the United States, including in New York. As the population ages, more individuals will require long-term care services and supports, highlighting the need for prudent planning to cover future care costs. There have been recent developments in New York on Medicaid eligibility rules and asset protection strategies.
Condominiums (“condos”) and housing co-operative (“co-ops”) seem very similar. Generally, both are apartments within a multi-unit building. The major difference lies in the ownership structure.
There are many misconceptions surrounding Medicaid long-term care. One persistent myth is that a couple will lose all of their assets if one of the spouses applies for Medicaid to pay for a nursing home.
Attorney Britt Burner discusses the anatomy of trusts, the types of trusts used in Estate and Medicaid planning, and how they can benefit you and your loved ones.
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.
Did you know that banks, insurance companies, corporations and courts are required by law to report dormant accounts to the New York State Comptroller? These organizations must attempt to notify you by mail and publish this information in newspapers.
Being a Trustee of a trust carries serious responsibilities and trustees are compensated for their time. Section 2309 of the New York Surrogate’s Court Procedure Act (“SCPA”) sets forth the computation of commissions payable to trustees.
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.
Medicaid provides long term care coverage to eligible individuals who meet certain asset and income requirements. Many people do not realize that they can become eligible for Medicaid and preserve assets – even when their assets and income seem too high.
Some of you may be thinking, “I signed my trust, now what?” Now it is time to fund your trust… you must put something in it!
Britt Burner, Esq. discusses the importance of Estate Planning documents, the process of probate, and common misconceptions in elder law.
In The Media
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Hon. Gail Prudenti Joins AHRC Nassau Foundation Board of Directors
As a member of the Board, Judge Prudenti will help advance the Foundation’s mission and ensure the long-term sustainability of programs that support children and adults with intellectual and developmental disabilities throughout Long Island.
November 15, 2023 -
Burner Prudenti Law, P.C. Recognized as Tier 1 Law Firm by Best Lawyers
We are honored to announce Burner Prudenti Law, P.C. has received a Tier 1 ranking in Elder Law in Long Island by U.S. News – Best Lawyers for the 2024 edition of “Best Law Firms.”
November 2, 2023 -
Burner Prudenti Law Attorneys Named 2023 Super Lawyers and Rising Stars
Four Burner Prudenti Law, P.C. attorneys have been included in this year’s Super Lawyers and Rising Stars lists for the New York Metro area. Super Lawyers, part of Thomson Reuters, is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement.
September 22, 2023 -
Matthew Kiernan, Former Suffolk County Public Administrator, Joins Burner Prudenti Law, P.C.
Burner Prudenti Law, P.C. is pleased to announce that Matthew Kiernan, Esq., former Public Administrator of Suffolk County as appointed by the Surrogates Court, has joined the firm as Counsel.
September 22, 2023 -
Nancy Burner and Britt Burner Recognized as 2024 Best Lawyers in America, Five Attorneys Named Ones to Watch
Nancy Burner and Britt Burner have been included in the 2024 edition of The Best Lawyers in America for the practice areas of Elder Law and Trusts & Estates. This is Nancy’s tenth consecutive year being honored for Setauket, NY, and Britt’s second year being honored, this year for New York, NY.
August 21, 2023 -
Burner Law Group Now Burner Prudenti Law, P.C.
Judge Gail Prudenti, Former Chief Administrative Judge for the State of New York, Joins the Firm, Expanding Its Trust & Estates Practice
August 17, 2023
Our Blog
Estate planning is all about preparation and ensuring that your assets are distributed in line with your wishes. It’s a comfort knowing your loved ones will be cared for just as you intend. However, life’s unpredictability sometimes throws a curveball. What if a beneficiary becomes disabled after you’ve finalized your estate plan?
Burner Law Group, P.C. has been serving Suffolk County and the greater New York area for more than 28 years. As a client-first, community-driven boutique trust and estates law firm, we know the value of growth and partnership.
Estate planning involves careful consideration of various factors to ensure that your assets are protected and distributed according to your wishes. One element that can add an extra layer of flexibility and protection to your trust is the inclusion of a Trust Protector.
Everyone knows the statistics – almost 50% of marriages in the United States end in divorce. Second and third marriages fail at an even higher rate.
Mental illness refers to a wide range of conditions that affect an individual’s mood, thinking, and behavior. These conditions can affect a person’s ability to function in daily life and can vary in severity from mild to severe.
The COVID-19 pandemic has devastated families across the United States, leaving countless people grappling with loss, grief, and unanswered questions. If you’re one of the many people who have lost a loved one to COVID-19, you may be wondering if there is any recourse you can take against the nursing home where your loved one lived.