BPL Newsletter: Discover the benefits of using Spousal Lifetime Access Trusts for estate tax planning
Burner Prudenti Law, P.C.
Excellence. Compassion. Integrity. Your full service boutique Trusts & Estates, Elder Law and Real Estate law firm
With the looming sunset of the current federal estate tax exemption, many married couples are wondering if there is any planning that can be done to reduce the?estate tax liability?at the time of their deaths. For some, a spousal limited access trust (“SLAT”) may be the answer.?
A SLAT is an?irrevocable trust?created by one spouse for the benefit of the other during his or her lifetime. It is a solution for married couples looking for a way to use their current?gift and estates tax exemption?while maintaining access to the assets placed in the trust.
The SLAT can provide income and principal distributions for the benefit of the spouse and other beneficiaries, which may include children.
This tool allows for asset transfer outside of the taxable estate while maintaining indirect access to those assets through the spouse. However, they require careful planning to avoid potential pitfalls.
TODAY! / 12 PM
Advance Directives and Power of Attorneys 101
Amagansett Free Library
Community Room
215 Main St.
Amagansett NY 11930
Join Attorney Melissa Doris, Esq. as she discusses the importance of having a Power of Attorney and a Health Care Proxy in place.
Learn what you need to know about advance directives and strategies to help protect you and your loved ones.
Registration is required.
September 18 / 11 AM
Advance Directives and Power of Attorneys 101
Smithtown Public Library - Kings Park Building
Community Room
1 Church Street
Kings Park, NY 11754
Join Attorney Brittni Sullivan, Esq. at Smithtown Library – Kings Park Building for an informative discussion on the importance of having basic Estate Planning documents in place including health care advance directives and a durable power of attorneys and more.
Registration is required.
September 18 / 6 PM
Estate Planning: Beyond the Basics
Montauk Library
871 Montauk Hwy
Montauk, NY 11954
Join Founding Partner Nancy Burner, Esq. at Montauk Library as she explores the essential strategies for coordinating your estate plan, no matter the size or shape of your estate. Learn how to avoid estate taxes, incorporate charitable giving, and design an estate plan that stands the test of time—even through incapacity.
Registration is required.
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September 19 / 7 PM
The Role of Trustee and Executor
Hampton Bays Public Library
Helen Gould Room
52 Ponquogue Ave.
Hampton Bays, NY 11946
While many people are familiar with the basic concept of a will and that the appointed executor is responsible for managing the estate, few know the specific duties and steps involved in the process.
Join PartnerBritt Burner, Esq., Partner at the Hampton Bays Public Library as she discusses these important roles in Estate Planning. Britt will explore the responsibilities of both the administrator of an estate (in the absence of a will) and the executor of a will.
October 8 / 11 AM
Agents, Trustees and Executors: What You Need to Know
Port Jefferson Library
Meeting Room
100 Thompson Street
Port Jefferson, NY 11777
Do you have questions on the responsibilities of agents, trustees or executors when it comes to your estate plan?
?Join Brittni Sullivan, Esq., Senior Associate at Burner Prudenti Law, P.C. as she discusses these important roles in Estate Planning and the duties involved for those appointed.
?Register directly with the Port Jefferson Free Library at 631-473-0022 or by email at [email protected] .
October 10 / 1 PM
Understanding Probate
Peconic Bay Medical Center
Caregivers Center
1 Heroes Way
Riverhead, NY 11901
Join us as Britt Burner, Esq. delves into the crucial aspects of estate planning and probate. This informative session will cover:
?The Importance of Estate Planning Documents: Learn why having a well-drafted estate plan is essential for managing your affairs and ensuring your wishes are carried out.
The Probate Process: Gain a clear understanding of what probate entails, how it works, and the steps involved in settling an estate.
Common Misconceptions in Elder Law: Discover and debunk common myths about elder law and probate and get practical advice on how to navigate these legal areas effectively.
Email to register: [email protected]
Join us at the Alzheimer's Association 2024 Walk to End Alzheimer’s on Saturday, October 19 at the Suffolk County Farm in Yaphank.
Please walk with us to help find a cure! You can join our team, start your own or donate.
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2 个月Great news! Excited to learn more about Spousal Lifetime Access Trusts and their benefits for estate planning.