As the new year approaches, many people take a fresh look at their finances—reviewing out-of-pocket expenses, ongoing premiums, and areas where they may be paying for things they no longer need. Life insurance is often one of those items.

Policies taken out years ago may no longer fit current financial goals, family situations, or budgets. For some policyholders, a life insurance settlement can be an option worth considering as part of that annual financial reset.

Pros and Cons of a Life Insurance Settlement

A life insurance settlement (also known as a life settlement) allows a policyholder to sell an existing life insurance policy to a third party in exchange for a lump-sum payment. This payment is typically higher than the policy’s cash surrender value, but less than the policy’s death benefit.

Pros

A life insurance settlement can provide immediate cash, which may be used to cover rising living expenses, medical costs, long-term care, retirement needs, or debt. For policies with high or increasing premiums, selling the policy can eliminate an ongoing financial burden.

In many cases, policyholders receive significantly more than they would by surrendering the policy back to the insurance company.

Cons

Once a policy is sold, the original beneficiaries will no longer receive the death benefit. The proceeds from a settlement may be partially taxable, depending on the policy and the amount received. The process can also be complex, involving brokers, buyers, and legal documentation, which may impact the final net payout.

Additionally, sellers must be comfortable sharing personal and medical information as part of the evaluation process.

Typical Parameters Required for a Life Insurance Settlement

Not all policies qualify for a settlement. Buyers typically look for several key factors, including:

• Age of the insured: Generally, 65 or older, though some younger individuals with significant health issues may qualify
• Policy size: Usually a minimum death benefit of $100,000 to $250,000, depending on the buyer
• Policy type: Permanent policies such as universal life, whole life, or convertible term policies are most common
• Health status: Medical conditions that reduce life expectancy often increase settlement value
• Premium structure: Policies with manageable or predictable premiums are typically more attractive

What the Seller Should Beware Of

Sellers should be cautious when choosing a broker or settlement provider and confirm that all parties are properly licensed in their state. It’s important to clearly understand fees, commissions, and how they affect the final payout. Policyholders should also be aware that after the sale, the buyer becomes the policy’s beneficiary and may periodically request health updates.

Finally, sellers should consider the long-term impact on estate planning and beneficiaries and consult with a financial advisor, tax professional, or attorney before moving forward.

Schedule your yearly meeting today so that, with your financial advisor and accountant, we can help you make an informed decision!

December has a funny way of slowing us down and speeding us up at the same time. Holiday lights go up, work winds down (at least a little), and we find ourselves looking back on the year we’ve lived—its chaos, its sweetness, its surprises—and wondering how we want the next one to feel.

It’s the season of reflection. And if we let it, it can be the season of action.

Here’s the thing: most of the “I’ll get to it someday” items on our mental lists aren’t actually complicated. They just feel big. But December is an invitation to tackle them with intention, clarity, and maybe a little courage.

Take the Trip

That vacation you’ve been thinking about? The one you keep pushing because the timing isn’t perfect or because you’re waiting for life to settle down? Take it.

Trips don’t have to be glamorous or far away. They just need to be taken. They’re memory-makers, relationship-strengtheners, perspective-shifters. And they remind us that our lives are happening now—not at some theoretical “better time.”

If this year taught you anything, let it be that experiences are worth prioritizing. Go. See the thing. Stand in the place. Take the photo. Feel alive.

Eat the Pie

Life is short, yes—but it’s also meant to be enjoyed. So eat the pie. Or bake the pie. Or share the pie.

This is less about dessert and more about permission. Permission to savor. To indulge. To stop living only for the future version of yourself who will supposedly have more time, more discipline, more certainty.

Joy is not something you earn; it’s something you allow.

Have the Conversation—Especially the Hard One

And then there’s the part everyone avoids, talking to your kids (or your parents) about your estate plan.

It’s not morbid. It’s not depressing. It’s responsible. And strangely enough, it’s loving.

Discussing what you want for your assets, your home, your care, your legacy—it removes guesswork, eliminates stress, and prevents future conflict. It gives your family clarity. It gives you peace of mind.

But here’s the good news: you don’t have to navigate the conversation alone.

If you’ve been meaning to update your plan—or you’re ready to share it with your family—schedule your annual peace of mind meeting. Bring your loved ones and let us help facilitate the discussion.

We can guide the conversation, answer questions, and make sure everyone leaves with a clear, confident understanding of your wishes. Sometimes a neutral, experienced professional makes all the difference.

If you’ve been meaning to update your will, designate beneficiaries, assign power of attorney, or simply explain your decisions to the people who matter most, December is a natural time to do it. Gathered families. Warm tables. A spirit of togetherness. It’s not about money—it’s about meaning.

If you’ve been meaning to update your will, designate beneficiaries, assign power of attorney, or simply explain your decisions to the people who matter most, December is a natural time to do it. Gathered families. Warm tables. A spirit of togetherness.

It’s not about money—it’s about meaning.

Reflection Is Only Half the Work

Thinking about your life is easy. Changing it takes intention.

December hands us perspective: What did this year teach me? What do I want next year to feel like? What am I done postponing?

Reflection matters, but action is where growth happens.

So, take the trip. Eat the pie. And have the conversation.

And as the year winds down, give yourself permission to begin the changes you’ve been waiting on. Not in January. Not when life is calmer. But now—while the year is still warm, still glowing, still reminding you what matters most.

Here’s to a December of reflection—and a new year full of courage.

From All of us here at Russo Law Group, have a Happy and Safe Holiday Season!

As the seasons change and we find ourselves reflecting on the things we’re most thankful for—our families, health, home, and the lives we’ve built—it’s a perfect time to think about how we can protect and pass on those blessings.

While estate planning may not seem like an obvious companion to gratitude, the truth is: it’s one of the most meaningful ways to express thankfulness for the people and values that matter most.

Estate Planning Is an Act of Gratitude.

Creating an estate plan is, at its core, a generous act. It’s a way of saying thank you to the people who matter most by making their future more secure. Whether it’s avoiding probate, ensuring guardianship for children, or clarifying your healthcare wishes, your plan protects others from uncertainty during difficult times.

When we focus on what we're thankful for — our families, our health, our communities — it becomes easier to make thoughtful estate planning decisions. You begin to prioritize not just “who gets what,” but why you’re leaving things the way you are.

This mindset helps reduce conflict among heirs and brings clarity to your intentions.

Too often, estate planning is only discussed after someone passes, which can sometimes, spark confusion or even resentment. But if you approach estate planning with a spirit of gratitude, it can become a tool for family connection.

Gratitude is a feeling, but it’s also a call to action. It invites us to care deeply, to give generously, and to plan wisely.

If you’ve been putting off your estate planning, consider this your invitation to begin not from a place of fear, but from a place of thankfulness.

Start the conversation. Talk to a professional. Write down your wishes. Let your gratitude guide the process. Because the best legacies don’t just happen. They’re built with intention and love.

October is a powerful time of reflection and advocacy, as we observe both Breast Cancer Awareness Month and Down Syndrome Awareness Month. These causes touch the lives of millions, and while they represent different challenges, they highlight a shared truth: planning for the future is not just wise—it’s essential.

While we recognize that many of our clients have already taken the important step of creating an estate plan—and that’s something to be proud of, it is not a one-time task. Life evolves. Health, relationships, finances, and caregiving responsibilities change. That’s why regularly reviewing and updating your estate plan is just as important as creating one.

And for those who are already well-prepared, this month is also a great time to support and encourage friends and family members who may still be early in their own planning journey. Sharing your experience can be one of the most meaningful ways to raise awareness and inspire action.

Why Estate Planning Matters for Families Affected by Breast Cancer

A breast cancer diagnosis—whether recent or in remission—can serve as a wake-up call to put legal and financial affairs in order. While treatment focuses on healing the body, estate planning protects your voice, your values, and your loved ones.

Key considerations for breast cancer patients and survivors:

• Create or update your will to reflect your wishes for assets and guardianship (if you have minor children).
• Set up a healthcare proxy to name someone you trust to make medical decisions if you're unable.
• Prepare a living will or advance directive to guide your care in case of serious illness.
• Establish financial Durable Power of Attorney for help managing bills and finances during treatment.

Why Estate Planning Is Critical for Families of Individuals with Down Syndrome

Raising a child or supporting an adult with Down syndrome involves a lifetime of love—and also long-term planning. Parents and caregivers often worry: “What happens when I’m no longer here?” Estate planning answers that question with confidence and control.

Special needs estate planning may include:

• Setting up a Special Needs Trust (SNT) to protect benefits like SSI and Medicaid
• Naming a guardian or successor caregiver who understands your child’s unique needs
• Creating a letter of intent to document daily routines, preferences, medical needs, and values
• Planning for housing, employment, and long-term care

Estate Planning Is Not Just for the Wealthy—It’s for Every Family

There’s a common myth that estate planning is only for the elderly or the wealthy. The truth? Every adult should have an estate plan—especially those managing serious illness or caregiving responsibilities.

Whether you are newly diagnosed, living with breast cancer, or raising a child with Down syndrome, taking control of your estate plan ensures your loved ones are protected, even in the face of uncertainty.

How to Get Started

If you’ve been meaning to create or update your estate plan, October is the perfect time to take that step—a month rooted in awareness, strength, and hope.

Here’s how to begin:

1. Inventory your assets and responsibilities
2. Consult an estate planning attorney, ideally one with experience in medical or special needs planning
3. Create or update your legal documents (will, trust, powers of attorney, advance directive)
4. Communicate your wishes with family and caregivers
5. Review your plan regularly, especially after major life changes

Breast Cancer Awareness Month and Down Syndrome Awareness Month both highlight the courage of individuals and families navigating complex journeys.

By taking the time to plan your estate, you’re doing more than organizing paperwork—you’re securing a future filled with dignity, protection, and peace.

So, this October, go beyond awareness—take action. Start planning today. Our expertise can be a guide for you, a loved one or close friend in the unique journey.

Life is a journey with many seasons—each bringing its own joys, challenges, and responsibilities.

Whether you're a young professional just starting out or enjoying the golden years of retirement, having a clear, up-to-date estate plan is one of the most strategic steps you can take for yourself and your loved ones.

Young Adulthood (20s to early 30s): Laying the Foundation

Many young adults assume estate planning is only for the wealthy or the elderly—but the truth is, it starts here.

Key considerations:

• Durable Power of Attorney: Appoint someone to handle your financial matters if you're incapacitated.
• Healthcare Proxy/Living Will: Designate someone to make medical decisions on your behalf.
• Beneficiary Designations: Ensure life insurance, retirement accounts, and bank accounts are up-to-date.
• Basic Will: Decide who gets your assets, even if they're modest.

This season is all about protecting your future self and laying groundwork.

Marriage & Family Building (30s to 40s): Growing Responsibilities

As relationships deepen and families grow, your estate plan should evolve accordingly.

Key considerations:

• Guardianship Designations: Designate a guardian for minor children.
• Updated Will and Trusts: Consider a revocable living trust to avoid probate and manage assets for children.
• Life Insurance: Secure appropriate coverage to support your family if something happens to you.
• Financial & Medical Directives: Update your power of attorney and healthcare proxy.

This is the season to protect your loved ones and plan for their future.

Peak Earning & Pre-Retirement (50s to early 60s): Refinement & Strategy

You're building wealth, nearing retirement, and possibly caring for aging parents or launching adult children.

Key considerations:

• Review & Update Documents: Ensure wills, trusts, and advanced directives reflect current wishes.
• Estate Tax Planning: Consult with an advisor about minimizing taxes and maximizing gifts.
• Long-Term Care Planning: Evaluate options for nursing care or assisted living, including insurance.
• Business Succession: If you own a business, create a clear succession plan.

This season is about strategic refinement and protecting what you’ve built.

Retirement & Legacy (60s and beyond): Preserving Your Legacy

With retirement comes the opportunity to focus on your legacy and how you want to be remembered.

Key considerations:

• Legacy & Charitable Giving: Incorporate philanthropy into your estate plan if desired.
• Distribution Planning: Clearly outline how and when beneficiaries receive assets.
• Healthcare Decisions: Revisit advanced directives and consider end-of-life care preferences.
• Asset Protection: Shield your estate from long-term care costs and potential creditors or mismanagement.

This season is your chance to solidify your legacy and ensure peace of mind.

Estate planning isn’t a one-time event—it’s a dynamic process that should evolve with each season of your life. The earlier you start and the more regularly you review your plan, the more control you’ll have over your future and the greater the benefit to those you love.

Whether you’re just beginning or reassessing your plan in retirement, consider working with an estate planning attorney or financial advisor to ensure your wishes are fully honored.

After all, true peace of mind comes from knowing you’re prepared for every season!

Have you thought about what would happen to your assets, children, or even pets if something were to happen to you? Creating a Will is one of the most important steps you can take to ensure your wishes are honored and your loved ones are protected.

You likely have more assets than you think—your home, car, savings, personal belongings, heirlooms, and even your pets. Without a legally valid will in place, your estate will be distributed according to state law. That might not reflect your true wishes, and it can create unnecessary stress or conflict for those you care about most.

Why Everyone Needs a Will

• Clearly outline how your assets will be distributed
• Name guardians for minor children
• Appoint someone to care for your pets
• Ease the legal burden on your loved ones during a difficult time

Online Wills vs. Attorney-Drafted Wills: What’s the Difference?

While online services may seem like a fast and affordable option, they can come with serious risks.

Online Wills: Pros & Cons

Pros:

• Lower initial cost
• Convenient and quick

Cons:

• No legal advice provided
• High risk of errors that can invalidate your will
• May not comply with your state’s specific legal requirements
• Lack of customization for complex family dynamics or tax planning

Attorney-Drafted Wills: Why They’re Worth It

• Customized for your unique assets, family situation, and wishes
• Ensure compliance with state laws and court expectations
• Handle complex scenarios like multiple properties, trusts, disinheritances, and guardianship
• Offers peace of mind that your will is legally sound and enforceable

Think of it as an investment in your legacy and your family's peace of mind. Make a Will Month is the perfect time to take control of your future because if you don’t decide, the law will decide for you.

As Peace of Mind members, your annual meeting serves as a great opportunity to review your Will with your attorney, or you may gift your annual meeting to a friend or family member so that they may establish a Will and have some peace of mind too!

Both the REAL ID and ENHANCED ID are federally compliant ID’s that are primarily used for air travel and accessing federal facilities.

The ENHANCED ID is only issued in select states: New York, Vermont, Washington, Michigan, and Minnesota. The ENHANCED ID acts as both a REAL ID and allows you travel to and from Canada, Mexico and select Caribbean countries.

The REAL ID only allows you to travel domestically within the United States.

If you are a frequent traveler to our neighboring countries the ENHANCED ID is a great alternative to a passport.

Real ID vs. Enhanced ID

If you have a passport (or other REAL compliant document) and are not due to renew your driver’s license or ID card, you do not need to upgrade right away.

What Documents to Bring/ What to Know

If you are planning to renew or upgrade your license to a REAL ID or ENHANCED ID here are a few helpful tips:

• New York charges an additional $30.00 for an ENHANCED ID
• ENHANCED ID’s do not replace your passport for international travel
• An appointment with the DMV is required.
• You will be required to take an updated picture while you are at the DMV
• The application to renew/upgrade your license (MV-44) can be found on the DMV website. This can be prefilled out and printed for your convenience, or they have blank copies at the DMV.
• BOTH require specific documents for renewal/upgrade. These documents are listed on the DMV website for proof of identity, SSN, and residency.
• Bringing ALL the required documentation with you to your appointment makes the process quick and seamless.

Before you board that plane, take a moment to ensure all your documents are up to date and aligned with your current needs. Schedule your annual POM meeting today—for true Peace of Mind while you travel!

As Father’s Day approaches, we often think about how to show appreciation for the dads, grandfathers, and father figures in our lives. Beyond the usual cards, tools, and cookouts, there’s another gift worth considering—the gift of planning ahead.

Whether you're a dad yourself or honoring one you love, making thoughtful decisions about how a home or property will pass to the next generation is one of the most meaningful legacies you can leave.

When it comes to estate planning for real estate, three common tools come up: the life estate deed, the transfer on death (TOD) deed, and the deed to a trust. Each offers a different way to secure a future for your loved ones.

Let’s break down what they mean—and how they reflect a father’s care and foresight.

1. Life Estate Deed: Keeping the Home, Passing It On

A life estate deed lets someone (often a parent) keep the right to live in their home for the rest of their life, while naming who will automatically inherit the property after they pass.

Benefits:

• Avoids probate
• Guarantees Dad can live in the home for life
• Often simple and cost-effective

Drawbacks:

• Hard to change once signed
• Can complicate taxes or Medicaid eligibility

Why it’s a Father’s Day gift: It says, “Dad, your home is always yours—and we’ve taken care of the future, too.”

2. Transfer on Death (TOD) Deed: Flexibility with a Backup Plan

A Transfer on Death deed (also called a beneficiary deed) allows the homeowner to name who will get the property after they die—but without giving up any control during their lifetime.

Benefits:

• Avoids probate
• Easy to revoke or change
• Keeps full control while alive

Drawbacks:

• No protection for long-term care costs during lifetime

Why it’s a Father’s Day gift: Perfect for the independent dad who wants flexibility. “You're still in control, Dad—but now there's a plan in place.”

3. Deed to a Trust: Long-Term Protection and Control

A deed to a trust transfers ownership of a home into a living trust, which is managed according to written instructions. Dad can still live in and manage the home, and when he passes, the trust ensures a smooth transition without court involvement.

Benefits:

• Avoids probate
• Allows complex instructions and protections
• Can cover more than just the home

Drawbacks:

• More complex and costly to set up
• Must be maintained properly

Why it’s a Father’s Day gift: This is for the planner, the protector—the father who wants to build a true legacy. “Dad, let’s make sure your wishes are carried out, just the way you intend.”

So, Which One Is Right for You or Your Family?

Each of these tools—life estate deed, TOD deed, and deed to a trust—can help protect a father’s wishes, reduce family stress, and ensure a smooth transfer of property. If you’re not sure where to start, a conversation with an estate planning attorney can help guide the decision. And what better time than Father’s Day to begin that dialogue?

Father’s Day is about love, leadership, and legacy. This year, consider giving or encouraging a gift that won’t be forgotten: a clear, secure plan for the future. Because some of the greatest gifts aren’t found in a box—they’re found in peace of mind.

There’s a special kind of strength that lives in moms. It’s quiet but powerful. It’s steady, often unseen, and deeply felt by everyone lucky enough to be in their care.

Moms are the ones who show up — not just when it’s convenient, but when it’s needed most. They remember the little things, take on the heavy things, and somehow always manage to put others first. Whether it’s holding the household together, cheering from the sidelines, or staying up late just to make sure everyone is okay, moms give and give — without ever keeping score.

And it’s not just about human kids. We know the love and devotion pet moms give, too — the 3 a.m. potty breaks, the vet visits, the endless affection, and the way they treat every wag, purr, or nudge as a conversation. That’s motherhood, too.

To all the moms — of people, pets, and hearts — you are seen, and you are appreciated more than words can say.

If you don’t think that you will be using your annual Peace of Mind meeting this year and feel like someone else in your life could use it more right now, don’t forget that you’re welcome to pass it along.

Sometimes, giving even the smallest moment of support can have the biggest impact — and no one knows how to give like a mom.

So, from all of us, with full hearts: Happy Mother’s Day!

Thank you for your care, your strength, and the endless love you give. The world is better — and kinder — because of you.

In today’s fast-paced world, it's easy for our spaces to become cluttered. Whether it’s an overflowing desk, a disorganized closet, or piles of old papers, clutter can quickly accumulate, affecting both our physical environment and mental health. The act of decluttering is not just about tidying up – it’s about creating a more peaceful and functional space that fosters productivity, clarity, and well-being.

The Psychological Benefits of Decluttering

Our environment has a powerful impact on how we feel and function daily. When we are surrounded by clutter, our brains are constantly processing the mess, leading to mental fatigue, stress, and even anxiety. Decluttering, on the other hand, can help reduce cognitive overload. It allows us to focus on what truly matters and creates a sense of calm and order in our surroundings.

Studies have shown that a tidy environment can boost productivity, improve mood, and even contribute to better sleep. When you declutter your home or workspace, you’re not just organizing your physical items – you’re also creating mental space for clarity and creativity. This can lead to increased motivation and a more positive outlook.

Decluttering for Better Health

Did you know that clutter can affect your health? When we accumulate items that no longer serve a purpose, it can lead to increased stress, which may have physical effects on the body, including elevated blood pressure and poor sleep. Additionally, cluttered spaces can harbor dust, mold, and allergens, contributing to respiratory issues.

By decluttering, you’re also removing potential hazards in your home. Tripping over items or struggling to find essential things can cause accidents, but a clean, organized space reduces these risks and promotes a healthier living environment.

Decluttering to Save Time and Increase Productivity

How many times have you spent precious minutes searching for a document, your keys, or that one item you know you’ve seen somewhere? Clutter often makes us waste time looking for things we need, which can be frustrating and unproductive.

A well-organized space allows you to access what you need quickly and efficiently. You can dedicate more time to the tasks that matter, and you’ll be less likely to feel overwhelmed by your environment. Decluttering can help you create systems that support your personal and professional goals, freeing you up to focus on what’s important.

How to Begin the Decluttering Process

Decluttering doesn’t need to be an overwhelming task. Start by breaking it down into manageable steps:

1. Set Realistic Goals: Focus on one area or room at a time – whether it’s your kitchen, bedroom, or office. Setting smaller goals makes the process more achievable.
2. Sort and Purge: Be honest with yourself about what you really need. Donate or recycle items you no longer use. Consider the rule: if you haven’t used it in the past year, it’s probably time to let go.
3. Organize: Once you’ve purged unnecessary items, focus on organizing what remains. Create designated spaces for frequently used items and make it a habit to put things back where they belong.
4. Maintain: Decluttering is an ongoing process. Set aside time each week or month to tidy up and assess if anything new needs to be cleared out.

Declutter and Recycle with Purpose

As you declutter, remember that it’s not just about throwing things away. Many items – especially paper – can be recycled or repurposed. Recycling responsibly can help minimize your environmental impact, so don’t forget to shred any personal or confidential documents that you no longer need.

Decluttering isn’t just about having a neat home – it’s about fostering a lifestyle that enhances your mental and physical health, productivity, and overall well-being.

By taking the time to declutter, you create a space that works for you, not against you. And remember, the act of letting go of unnecessary items can be incredibly freeing.