Reverse Mortgage: It May Not Be All It’s Cracked Up To Be

A reverse mortgage is a mortgage loan, usually secured over residential real property, which enables the borrower to access the equity value of the property.  Specifically, it is a financial agreement in which a homeowner relinquishes equity in their home in exchange for regular payments or a lump sum of money based largely on the… Read More »

Tenancies – A Brief Explanation on the Three Types & Effects on Estate Planning

Just a few words on a deed may seem inconsequential, but where two or more individuals own title to real property, it is important to understand the multiple forms of ownership that are available, and unavailable, to property owners.  Whether it is residential real property, a condominium, or a cooperative apartment, the form of ownership,… Read More »

Family Plan

Here at Russo Law Group, you are not just a client, you are family! Did you know that as a client of our firm you can give an immediate family member a “Family Plan” Coupon? We truly consider our client’s family, and our goal is to forge a bond with you and your entire family. … Read More »

Applying for Community Medicaid – Part 1: What You’ll Need to Do

As the population ages and people are living longer than ever before, an increasing number of people find they need help at home.   Because the cost of paying for home care privately can be impossibly burdensome, many families choose instead to apply for Community  Medicaid (i.e. home care) to cover the cost. In order to… Read More »

Trusting Trusts: Why You Should Not Transfer Your Assets Outright To Your Children If You Can Avoid It

Many of our clients are legitimately concerned about what will happen to their homes and their assets if they need to go into a nursing home. They have heard of the five-year lookback related to Medicaid. Often, they show up at our office believing they will be advised to transfer their homes and/or their assets… Read More »

No, Your Living Will is NOT a DNR

Many individuals who seek counsel in our office come in ready to talk about a DNR (Do Not Resuscitate). They believe it to be a document that allows them to forgo life support in the event of a catastrophic event. However, the document which lets an individual express their wishes to refuse treatment in the… Read More »

“Per Stirpes”, “By Representation”, “Per Capita”-What Do They Mean?

If you die without a Last Will and Testament or a Trust, the New York State laws of intestacy will govern the disposition of your property to your “distributees”, your closest living blood relatives (in priority order). However, if you execute a Last Will and Testament or a Trust, you can control the disposition of… Read More »