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…
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…
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…