On National Healthcare Decisions Day (NHDD), Russo Law Group would like to focus on and talk about advance care planning. This is a key component of healthcare that too often falls by the wayside as people focus on everyday medical…
The Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) was part of the spending bill legislation passed by Congress in 2020. It was followed by the SECURE Act 2.0, which expanded the law designed to increase retirement…
Estate planning documents should be reviewed periodically, particularly after significant life changes such as marriages, births, divorces, and moving to a new state. Children grow up, marriages dissolve, property gets sold, and residences change. That’s why we recommend you consult…
When the “Queen of Soul,” Aretha Franklin, passed away in August 2018, her four sons filed paperwork with the Oakland County Probate Court in Michigan indicating that she passed away without a will. Since there were no estate planning documents…
NFL player Damar Hamlin recently made headlines after suffering a sudden cardiac arrest. While Damar is fortunately expected to make a full recovery, his experience serves as an important reminder of how quickly and unexpectedly things can change in life…
If you pass away in 2023 and the value of your estate exceeds the $6,580,000 basic exclusion amount by more than 5%, you will lose the exclusion benefit, and your entire estate will be subject to New York estate tax…
It is an emotional time following the death of a loved one. Inheriting an estate and dealing with the death of a family member brings mixed emotions. The loss of a loved one is sad but the influx of funds…
Wills are legally bound directives that state who will receive your property upon your death and are an essential component of a comprehensive estate plan. If you die without one (intestate), the state will distribute your assets and property via…
Prior to the SECURE Act, it was always important to ensure that a qualifying beneficiary designation was made to IRAs and other qualified retirement accounts. This could be an individual or a trust with the appropriate provisions that would allow the…
The special needs planning attorneys at Russo Law Group, P.C. have fulfilled the complex role of trustee for many of our clients. We take protecting assets for the benefit of their loved ones very seriously. It requires understanding the terms…