At Russo Law Group, we see similarities between the legal profession and NFL sports players. Attorneys earn complex degrees to use intelligence and accuracy to win high-quality cases and bring in more revenue for the firm. NFL players train to…
No one likes to think about their end of life, but you can’t avoid the inevitable. Estate planning helps you protect your family’s financial future and put your mind at ease. Having a solid plan in place can ensure your family…
As we welcome the New Year, we would like to remind you about the many services and practice areas available at Russo Law Group, P.C. Whether you have been a part of Team Russo for years or recently became a…
Parents of children with disabilities must prepare for the day their child becomes an adult. Many factors could influence whether adults with special needs will remain eligible for Social Security Income (SSI) benefits once they turn 18. The Definition of…
New York’s “revocation on death” statute (New York Estates Powers & Trusts Law §5-1.4 ) states that without the express terms of a governing document (e.g., a Last Will and Testament, Trust, Durable Power of Attorney, Health Care Proxy, Security…
In New York, if an individual passes away without a Last Will and Testament, or if the will is determined to be invalid, then the decedent’s assets are subject to the state laws of intestacy. Any assets held in the…
It is important to discuss your estate plan with your spouse or life partner thoughtfully and carefully. Before meeting with an estate planning attorney, it is best to discuss your ideas to present a united goal. This conversation can be…
Do I owe taxes on my inheritance? As qualified NY estate planning attorneys, this is a common inquiry from our clients. The short and sweet answer is that inheritances are not generally considered income for federal tax purposes. With that…
A Durable Power of Attorney (DPOA) is a legal document allowing a person (referred to as the principal) to delegate authority related to legal and financial matters to another person or persons (referred to as the agent). Durable powers of attorney are…
Within the family, caring for elderly relatives comes naturally. The love and care many adult children receive growing up become reciprocal, particularly in the case of their aging parents. But with the advent of longer lives, it is not uncommon…