The Impact of Divorce on Estate Planning

impact of divorce on estate planning

What is the impact of divorce on estate planning? New York has a “revocation on death” statute (New York Estates Powers & Trusts Law §5-1.4  ) which states that except as provided by the express terms of a governing instrument, (for example, a Last Will and Testament, Trust, Durable Power of Attorney, Health Care Proxy,… Read More »

What is “Elder Law” and Why Should I Care?

choosing an elder law attorney

What is “Elder law”? According to Wikipedia, it is “an area of legal practice that specializes on issues that affect the aging population”. It goes on further to identify three major categories that make up elder law: Estate planning and administration Medicaid, disability and other long term care issues; and Guardianship, conservatorship and commitment matters… Read More »

Daily Check-in with Vincent Week 32 & 34

Announcing New Videos Daily! Please join Vincent during the week at 10 a.m. Est on Facebook for his three minute “Check in with Vincent” videos. On Wednesday’s, Vincent along with his partners at the Russo Law Group will focus on important legal matters. Check-ins with Vincent are available on Facebook, Instagram Youtube and LinkedIn. “Check-in with… Read More »

How to become a Guardian for an Incapacitated Adult

guardianship incapacitated adult

When considering how to manage the property and/or well-being of a person under a disability, the need to be appointed a guardian for that person often becomes part of the conversation. In New York State there are three types of guardianship proceedings whereby a guardian can be appointed. The three guardianship proceedings are as follows:… Read More »

How to become a Guardian of a Minor

guardian of a minor

When considering how to manage the property and/or well being of a person who is a minor, or who may be considered disabled, the need to be appointed a guardian for that person often becomes part of the conversation. In New York State there are three types of guardianship proceedings whereby a guardian can be… Read More »

Daily Check-in with Vincent Week 30 & 31

Announcing New Videos Daily! Please join Vincent during the week at 10 a.m. Est on Facebook for his three minute “Check in with Vincent” videos. On Wednesday’s, Vincent along with his partners at the Russo Law Group will focus on important legal matters. Check-ins with Vincent are available on Facebook, Instagram Youtube and LinkedIn. “Check-in with… Read More »

Daily Check-in with Vincent Week 28 & 29

Announcing New Videos Daily! Please join Vincent during the week at 10 a.m. Est on Facebook for his three minute “Check in with Vincent” videos. On Wednesday’s, Vincent along with his partners at the Russo Law Group will focus on important legal matters. Check-ins with Vincent are available on Facebook, Instagram Youtube and LinkedIn. “Check-in with… Read More »

IRS Ruling on PPP Loan Forgiveness – NOT GOOD NEWS!

PPP loan forgiveness

For those who have Paycheck Protection Program (PPP) loans, the IRS has taken the position that you can not deduct business expenses that were paid from the PPP proceeds if those proceeds are forgiven. Under the CARES ACT, loans that are forgiven are not subject to income taxation. Revenue Ruling 2020-27 Now, the IRS has… Read More »

Tax

Daily Check-in with Vincent Week 26 & 27

Announcing New Videos Daily! Please join Vincent during the week at 10 a.m. Est on Facebook for his three minute “Check in with Vincent” videos. On Wednesday’s, Vincent along with his partners at the Russo Law Group will focus on important legal matters. Check-ins with Vincent are available on Facebook, Instagram Youtube and LinkedIn. “Check-in with… Read More »

Should I Get a Reverse Mortgage?

reverse mortgage

A reverse mortgage may benefit many people, but is it right for you? Factors to Consider Your desire for financial independence Your ability to remain in your own home for the rest of your lives Your need for supplemental income/improved cash flow Your financial values and attitudes toward loans Your interest in maximizing your estate… Read More »

Daily Check-in with Vincent Week 24 & 25

Announcing New Videos Daily! Please join Vincent during the week at 10 a.m. Est on Facebook for his three minute “Check in with Vincent” videos. On Wednesday’s, Vincent along with his partners at the Russo Law Group will focus on important legal matters. Check-ins with Vincent are available on Facebook, Instagram Youtube and LinkedIn. “Check-in with… Read More »

What Powers Does a Guardian Have?

guardianship

In New York State there are three types of guardianship proceedings whereby a guardian can be appointed. Three Guardianship Proceedings The three guardianship proceedings, which are established by separate statutes, are as follows: Surrogate’s Court Procedure Act (SCPA) Article 17 – Guardianship of a Minor Child SCPA Article 17-A – Guardianship of an Adult with… Read More »