Vincent Russo on CFN Live – The Family New Year’s Resolution

Watch Vincent J. Russo Legal Correspondent
on Catholic Faith Network’s CFN Live!

Vincent appeared on CFN Live on January 5th to discuss
“The Family New Year’s Resolution”

Colleen: “While some might say that they do not need New Year’s Eve to finally turn their life around, making resolutions on December 31 is a common, well-liked tradition, especially in the Western world. They are usually meant to contain some kind of improvement or betterment of one’s conduct or life choices.

Today Vincent will highlight the top Ten Resolutions and then he will focus in on Family.

Vincent: A Happy New Year to you and your family and our viewers.

So, let me start with the top New Year Eve’s Ten Resolutions. There are a number of top 10 lists, and this is my best shot at combining those lists:

1. Exercise more
2. Lose weight
3. Save more money / spend less money
4. Spend more time with family and friends
5. Look for a new job / pursue a career
6. Learn a new skill or hobby
7. Live life to the fullest
8. Travel more
9. Raise money for Charity and do Volunteer work
10. Quit smoking

 Colleen: Vincent, what can you tell us about how many resolutions do we make and how many do we keep?

 Vincent:  I found it interesting that:

1. The large majority of us – 74% – make one or two resolutions
2. As to keeping them, that is another story –
   1. In one survey, only 4% of survey respondents stuck to all of their new year’s resolutions and only 8% stuck to most of their goals. Thirteen percent of people didn’t stick to any of their resolutions.
   2. In another survey, about 46% of people who made New Year’s resolutions were successful.
   3. So, I want to be optimistic and go with your chances are 1 out of 2.

Colleen: Based on this list, is there a takeaway for you?

 Vincent: For me, I would like to focus in on how people are interested in being happy, happy with their health, with their finances and with their family.

At and around the holidays, it can be a wonderful time for families and for some, a most challenging time.

The Family Resolution can help build stronger relationships among family members – parent to children and grandchildren / sibling to siblings and vice versa.

It is not always easy but open, honest, and truthful communication can make a significant difference.

 Colleen: Vincent, you have met with thousands of families over the years in your elder law and estate planning practice, any tips you can share with us? 

 Vincent: Colleen, I would say first is to be open to having – what I call – crucial conversations.

A crucial conversation is a discussion between two or more people where the stakes are high, opinions vary, and emotions run strong.

When it comes to estates and estate planning, I have seen too many families destroyed because of a lack of communication.

People avoid the difficult conversations, or they go off track because people don’t feel safe and supported.

I have seen many people struggle over how to leave their assets and to whom and then families fight over how things were done (for example, by a parent).

Here are three tips:

1. Stick to your goals during the discussion so you don’t get overly emotional.
2. Listen to the other person’s opinions to help them feel safe in the conversation.
3. Use the STATE method to resolve a conflict.
   1. Share the facts
   2. Tell your story
   3. Ask for the other’s paths
   4. Talk tentatively
   5. Encourage testing

Seeking the assistance of an outside professional may also be helpful in these situations.

 Colleen: Well, I know you are a strong believer in Family Comes First which was also the name of your show on CFN for 12 years.  Let’s hope and pray for “all families” in 2022.

For more information on these topics and more, you can download for free our Planning Guides from our law firm website at vjrussolaw.com

Vincent can be found on past CFN Live episodes by clicking here.
Topics include:

• NYS Medicaid Home Care Program Changes
• Estate Planning Basics Part 1: Why do I need an Estate Plan?
• Estate Planning Basics Part 2: What is Included in an Estate Plan?
• Estate Planning Basics Part 3: When and Why do I need to update my Estate Plan?
• Estate Planning for Children with Special Needs Part 1: How do I provide for and protect my child?
• Estate Planning for Children with Special Needs Part 2: What Government Benefits are Available?
• Estate Planning for Children with Special Needs Part 3: What Steps Do I Need to Take for my Adult Child with Special Needs?
• Long Term Care Planning Part 1: “How Do I Pay for Long Term Care?”
• Long Term Care Planning Part 2: “How Can Medicaid Home Care Help Me?”
• Long Term Care Planning Part 3: “How to Qualify for Medicaid”
• What is a Power of Attorney?
• Important Legal Updates

We hope you tune in to CFN Live. It is a dynamic show with current news and fascinating contributors who have inspiring stories to tell. The new show CFN Live airs Monday through Friday at 9 am & 7:00 pm. You will be able to watch the show anytime, at your convenience, on the CFN YouTube Channel.

You can learn more about the Catholic Faith Network and CFN Live by visiting https://www.catholicfaithnetwork.org/cfn-live.

Russo Law Group’s Managing Partner, Vincent J. Russo, is a featured contributor on the Catholic Faith Network’s new show CFN Live. Vincent is the show’s Legal Correspondent. In his segment, entitled “In the Legal Know,” Vincent will keep you abreast of the latest legal developments including elder law, special needs and estate planning — all to help you make informed planning decisions to protect yourself, your loved ones, and your assets.