One of the most common questions we hear as New York elder law attorneys and estate planners is, “How much can I give in gifts without owing any taxes?” The Quick Answer The annual exclusion from federal gift taxes in…
Gain peace of mind by organizing and preparing your financial information for when you can no longer manage your affairs. You'll relieve your loved ones from having to gather documents and figure out how to access accounts in the future…
Watch “In The Legal Know” with Vincent J. Russo on CFN Live! Vincent appeared on CFN Live on Marzo 2nd, 2023 to discuss“Life Insurance Settlements - Seller Beware" https://www.youtube.com/watch?v=Bp7mLDSeHM0&feature=youtu.be Vincent J. Russo discusses life insurance settlements, the pros and cons…
This originally aired on the Catholic Faith Network’s show CFN Live: https://youtu.be/Bp7mLDSeHM0 Focusing on the advantages and disadvantages of life insurance settlements is an important topic to discuss today. We see the many tv commercials espousing the benefits of selling…
When it comes to deciding how to leave property to your children, it might not be as simple as you think. It will depend on their circumstances and your concerns. Dividing everything into equal shares may seem like the most…
It is no secret that many senior citizens and individuals with disabilities face significant medical costs each year, including the cost of long-term care. These costs are often financially crippling for many seniors, individuals with special needs, and their families…
Living or “inter vivos” trusts are commonly used in estate planning. These types of trusts can be separated into two broad categories, revocable and irrevocable. Both can be used in many different ways and be an instrumental part of your estate plan…
Watch “In The Legal Know” with Vincent J. Russo on CFN Live! Vincent appeared on CFN Live on Febrero 14th, 2023 to discuss“Selling Your Residence and the Capital Gain Exclusion” https://www.youtube.com/watch?v=aUe67RxG1gM&feature=youtu.be Vincent J. Russo discusses calculating the Gain subject to…
This originally aired on the Catholic Faith Network’s show CFN Live: https://youtu.be/aUe67RxG1gM This is a very timely topic in light of us being in tax season. If you sold your home in 2022, you must report the sale on your…
Taking action to advocate for your loved one in a nursing home is critical to their quality of life. Residents in nursing homes and other long-term care facilities are disproportionately affected by the flu, pneumonia, COVID-19, and other contagious diseases…