Russo Law Group: Week In Review

The week is coming to a close and The Russo Team has made some great strides. We have implemented a huge software update to help our staff operate with the most current and secured software. Our IT support has worked around the clock to make sure this was a smooth and un-interrupted process. Our staff… Read More »

WHAT IS MY TRUST IDENTIFICATION NUMBER AND WHY WOULD I NEED AN EMPLOYER IDENTIFICATION NUMBER (EIN) FOR MY TRUST?

A trust identification number is a number that identifies a trust, like any other legal entity, for tax purposes.   You need a trust identification number in order to put assets into your trust.  Your trust identification number will always be either 1) the Grantor’s Social Security Number, or 2) a number issued by the IRS,… Read More »

Estate Planning with S-Corporations

Estate Planning with S-Corporations With the federal and New York state tax exemptions being so high ($11.18 million and $5.25 million, respectively), clients with family businesses held in an S-corporation are less focused on reducing estate taxes and are more focused on avoiding probate and reducing future capital gains tax through obtaining a basis step-up…. Read More »

If I apply for Medicaid, is my home exempt?

A homestead is defined by Medicaid as the primary residence occupied by the applicant, the applicant’s spouse, or the applicant’s minor, disabled or blind child. A homestead is exempt for purposes of Medicaid eligibility under certain circumstances. The law limits that the applicant’s net equity in the home must be valued at or below $858,000… Read More »

21st Annual Swingin’ Fore Theresa

Join us for our  21st Annual Swingin’ Fore Theresa  Golf Outing & Gala Reception June 28, 2018 North Hills Country Club Gala Reception 5:30 p.m. – 7:00 p.m. Included Green Fees – Golf Cart – Awards The Swingin’ Fore Theresa Golf Outing, to be held on Thursday, June 28th, is an annual fundraising event to benefit… Read More »