Why Do I Need a Trust?

No one likes to think about his or her end of life, but you can’t avoid the inevitable.  Planning financially for you and your family’s future can help put your mind at ease. Having a solid plan in place can ensure your family is well taken care of after you are gone. As such, a… Read More »

Trusts – Do I Need One?

Interested in Learning Trusts? We will be hosting free educational seminars entitled, Trusts—Do I Need One? During these seminars, we will be discussing why someone may need a trust and which trust, irrevocable or revocable, would fit their situation best. Join us: August 10th from 9:30 am – 11:30 am at Russo Law Group Bay Shore Office… Read More »

Can I Fight a Nursing Home Discharge?

It can be extremely upsetting to be told by a nursing home that your loved one must leave. Unfortunately, sometimes a nursing home will have an ulterior or nefarious reason to want to discharge a resident from the facility. Perhaps the resident is difficult. Or maybe the family members are being difficult. It may even… Read More »

Are Gifts Made During My Lifetime Includible In My Estate For Estate Tax Purposes?

The answer to the question “Are gifts made during my lifetime includible in my estate for estate tax purposes?” depends on several factors.   Federal For purposes of the Federal Estate Tax, yes, any taxable gifts you make during your lifetime are includible in your estate. However, this does not necessarily mean that those gifts… Read More »

What are Letters Testamentary?

Sometimes when a loved one passes away, an individual who believes he or she inherited assets from the decedent will be told at a bank or financial institution that they will need “Letters Testamentary” in order to collect those assets. The question most people have at that point is “What are Letters Testamentary?”   Letters… Read More »

Alzheimer’s Disease and Planning for the Possibility of Incapacity

June is National Alzheimer’s and Brain Awareness Month, a time to show support for the millions of people struggling with this debilitating disease—and, a good time to think about planning for the possibility of needing long-term care.   Alzheimer’s disease is a form of dementia that leads to memory, thinking, and behavioral problems. It is… Read More »

Does Medicaid Pay for Assisted Living?

Generally, the answer to this question is “No”. However, Medicaid does have a program, aptly named the “Assisted Living Program” (or “ALP”) that does provide Medicaid coverage for an assisted living.  There are a number of facilities in New York, and about a half-dozen or so on Long Island, in the ALP program. Most assisted… Read More »