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New Name… New Location… Same Commitment

New Name... New Location... Same Commitment by Marissa Kleiner

The law firm you have come to know and trust as Vincent J. Russo & Associates, P.C. is becoming Russo Law Group, P.C. This name change better reflects the important contributions made by the firm’s partners, attorneys and staff.

Along with the name change, on September 29th, after 30 years in our Westbury location, team Russo is proud to announce that we are relocating to a beautiful new spacious office in Garden City.

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When a Loved One Dies, Don’t Let Restorative Taxes Come Back to Haunt You

 

When you own a piece of real property in New York State, your circumstance dictates whether or not you are entitled to certain tax exemptions.

What does this mean? Your personal residence may qualify for a number of exemptions based on factors such as whether you are a senior citizen, have financial difficulty, or are a veteran. In addition, if you and your spouse earn under $500,000 per year, then you could file for the STAR exemption for your personal residence.

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United States Senate Unanimously Passes the Special Needs Trust Fairness Act

United States Senate Unanimously Passes the Special Needs Trust Fairness Act

On Wednesday, September 9, The Special Needs Trust Act was passed! The passage of this legislation establishes liberties for persons with disabilities which had been previously denied to them.

Prior to passing the Act, only a parent, grandparent, legal guardian of the disabled individual, or a court could establish a special needs trust on behalf of the disabled individual.

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Estate Planning — Like an Ironman!

Estate Planning -- Like an Ironman! by Deanna M. Eble

Estate Planning and an Ironman event…what does one have to do with the other you ask? EVERYTHING!

As a proud wife of a first-time Ironman and an elder law attorney, I can explain.

Step 1: Hire a Coach

  • Most first-time Ironmen striving to cross that finish line after 140.6 miles of swimming, biking and running need direction on how to build up their endurance for such a long race.
  • Most people doing estate planning for the first time need a plan to protect their assets. Elder law attorneys know what needs to be done to protect your assets from your future long-term care costs.
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Estate Planning for the Electronic Age

Estate Planning for the Electronic Age by Marissa Kleiner

Millions of people use computers to conduct business and interact socially, and for general communications. Many of those computer users are registered in some way on dozens of websites, including social media outlets such as Twitter, LinkedIn, Instagram, and Facebook. With these outlets, not many users consider what happens when there is no longer anyone to maintain them.

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There is No Substitute for Sound Legal Advice

 

Everyone has their niche.

Financial advisors have a certain field of expertise, and most are very good at what they do. However, when it comes to elder law, Medicaid and estate planning, there is no substitute for sound legal advice.

Case study:

A retiree originally made an appointment with a law firm specializing in estate planning and elder law – but, a family friend was a financial advisor. He decided to work with his friend and canceled his appointment with the law firm.

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Lessons from Whitney Houston’s Will and Bobbi Kristina’s Death

 

The tragic death of Bobbi Kristina, Whitney Houston’s only child, has left her estate in limbo.

Houston’s will left the entirety of her estate, including jewelry, clothing, cars, record profits and music royalties, in a spendthrift trust to the sole heir, Bobbi Kristina. The provisions of this trust stated that Bobbi Kristina would receive the distributions in three installments: 1/10 at age 21, 1/6 to be received at age 25, and the remainder of the estate upon her turning 30. Based on these provisions, Bobbi Kristina was only entitled to 1/10 of the estate when she died since she was only 22 years old at the time of her passing.

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