Russo Law Group wants to do our part to offer resources, guidance, and help to those who need it. Below are some of our weekly activities you can participate in.
Daily Check-in with Vincent
Please join Vincent every day at 10 a.m. EST on Facebook, Instagram, and LinkedIn for my quick “Daily Check-in with Vincent.”
During these “check-in” Vincent will provide relevant information to help keep people up-to-date as it pertains to our areas of expertise: elder law, estate planning, and special needs planning during this pandemic.
Vincent will also provide you with my tip of the day and even a short clip of a relevant rock song (likely the Beatles).
As we continue our dedication of providing peace of mind to you and your family in these uncertain and stressful times, Vincent will also host a weekly Facebook Live on Tuesdays, at 1 p.m. EST to answer any questions you may have as COVID-19 continues to affect our lives and the lives of our loved ones.
During the session, Vincent will keep you informed about what you need to know including topics such as:
- How to make healthcare decisions for a loved one
- How to navigate through this time of financial crisis
- How to use trusts and LLCs to protect your assets
- Know what benefits you are entitled to if you lose your job
- Coping with financial and legal matters while successfully surviving the pandemic and more.
We also want to let you know that we are now offering “virtual appointments” and have staff available for the supervision and execution of legal documents.
The statistics we read about daily are staggering and can feel daunting, but if we are all prepared, we can take comfort in knowing that our loved ones are taken care of well after we are gone. This is an uncertain time, but if we band together, we will persevere and come through stronger than ever before.
In Case You Missed It:
We hope you and your loved ones continue to be safe and healthy during this medical crisis.
Recently (3/20/2020) the U.S. Treasury Department and Internal Revenue Service (IRS) issued updated guidance extending the due date to file a federal income tax return from April 15, 2020 to July 15, 2020 for any individual, trust, estate, partnership, association, company or corporation with a Federal income tax payment or Federal income tax return due April 15, 2020.
The updated guidance restates the extended time non-corporate tax filers have to pay up to $1 million of federal income tax (including self-employment tax), and corporate taxpayers have to pay up to $10 million of federal income tax liability from April 15, 2020 to July 15, 2020 without penalties or interest.
In addition, this relief includes extending the time to make Federal estimated income tax payments (including payments of tax on self-employment income) from April 15, 2020 to July 15, 2020.
There is no need to file an Application for Automatic Extension of Time to File U.S. Individual Income Tax Return (IRS Form 4868) or an Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns (IRS form 7004) to take advantage of the extended time.
No interest, penalties, or addition to tax for failure to file the Federal income tax returns or to pay the Federal income taxes will be incurred as a result of the postponement of the due date for filing Federal income tax returns and making Federal income tax payments from April 15, 2020 to July 15, 2020.
Please note that no extension is provided at this time for the payment or deposit of any other type of Federal tax, or for the filing of any Federal information return.
New York State also extended the deadline to file income tax returns and pay income tax liability to be in alignment with the Federal government, however, no official guidance has been provided.
We will continue to monitor these issues and will provide updates once additional information becomes available.
If you have any questions or concerns, please do not hesitate to contact our office.
Please note that this information is not legal advice and should not be construed to be legal advice.
Have You Heard Of The Secure Act? Find Out How It Affects Your Ira!
Vincent J. Russo joined Hilary Topper on her talk show, Hilary Topper on Air. During this podcast, Vincent shared the pros and cons of the new Setting Every Community Up for Retirement Enhancement (SECURE) Act. He will discuss the new minimum distributions, contributions, employers match, annuities, and withdrawals.
Vincent will also hold an in-person seminar on March 19th at 10 am in the Garden City office. Call 516-683-1717 to sign for this free seminar. Or, you can sign up here.
Vincent is a wealth of information and was able to direct listeners on how to best inform themselves of upcoming changes in law. If you missed this timely and topical podcast, it can be replayed here.
Russo Law Group is Proud to Sponsor: “Making Memories at the Movies”
Making Memories at the Movies is a unique series of programs designed for people living with memory loss and their care partners. The Plaza Cinema and Media Arts Center are proud to join a growing number of community-supported theaters ensuring the accessibility of film to people of all ages and abilities.
LOCATION, LOCATION: TRAVEL TO PARTS FAMILIAR AND FANCIFUL!
Date: Tuesday, February 25th, 2020
Time: 11:00am (program runs approximately 75 min)
Location: Plaza Cinema & Media Arts Center
20 Terry Street, Suite 121, Patchogue NY 11772
Participants will enjoy clips from classic films such as Oklahoma!, Brigadoon, An American In Paris, and Mr. Smith Goes To Washington followed by guided conversation and reminiscence.
Popcorn and light refreshments are provided at no cost. RSVP is required to participate, please click the button below to sign up.
Archbishop Sheen was known for his evangelism, radio broadcasts, and television show “Life is Worth Living”, which aired nationwide in the 1950s. For the last several years, Catholic dioceses have been at odds as to where his mortal remains should be interred. His remains have been interred in a crypt in Saint Patrick’s Cathedral since his passing in 1979.
His Last Will and Testament
New York’s archdiocese and Saint Patrick’s Cathedral argued that Archbishop Sheen desired to be buried in New York City as indicated in his Last Will and Testament executed five days before his passing in 1979. However, Archbishop Sheen’s niece, Joan Cunningham, believed that he should be interred at St. Mary’s Cathedral in Peoria, Illinois, where he was ordained in 1919, especially if it increases his chances of gaining sainthood. Since 2002, the Diocese of Peoria has been working on Archbishop Sheen’s Cause for Canonization as a saint and they plan to continue that quest.
The Court Ruling
In June, the New York Court of Appeals ruled that Archbishop Sheen’s remains shall be transferred to St. Mary’s Cathedral in Peoria, Illinois. The Court reasoned that, based on the record, had the Archbishop, a devout Catholic with a lifelong devotion to the Catholic Church, been given the choice of sainthood or to have his remains interred in New York City, he would likely choose .
Appointment of Agent to Control Disposition of Remains
As indicated above, when your wishes regarding a burial place are not clearly delineated in a written declaration, it can cause a lot of issues for your heirs. This can be avoided if the decedent executed a document called the Appointment of Agent to Control Disposition of Remains. Pursuant to New York’s Public Health Law § 4201(2), an individual may, in writing, designate a person to control the disposition of his or her remains. This document permits an individual to designate an agent to control the disposition of his or her remains as well as indicate specific instructions for his or her funeral or cremation. Not only does the document ensure that you reach the resting place of your choosing, but it also helps your family during one of the most difficult times of their lives – the loss of you.
As always, consult with an experienced elder law attorney to ensure your burial place wishes are met.
Passing Away Without a Will
A Holographic Will
New York State
- A member of the United States armed forces while in actual military or naval service during a war, declared or undeclared, or other armed conflict in which members of the armed forces are engaged; or
- A person who serves with or accompanies an armed force engaged in actual military or naval service during such war or other armed conflict; or
- A mariner while at sea.
Reasons a Holographic Will May Become Invalid
- If made by a member of the armed forces, after one year following his or her discharge; or
- If made by a person who serves with or accompanies an armed force engaged in actual military or naval service, after one year from the time he or she stopped serving with or accompanying such armed force; or
- If made by a mariner while at sea, after three years from the time the holographic will was made.
Accordingly, had Ms. Franklin passed away domiciled in New York, these handwritten documents would not be considered valid Wills under New York law.