Breakfast with Vincent 
July 22, 2010 
 
Another Budget Bill Behind Us
 
A very strong effort was made this year by the New York State Bar Association (NYSBA) Elder Law Section to combat proposed cuts that would adversely affect our seniors and those with disabilities. The following are two provisions that were in the original proposed Budget Bill.
 
  • Expanded Estate Recovery - Excluded
 An attempt was made to expand the definition of "estate" for Medicaid estate recovery purposes. Currently, Medicaid estate recovery under New York Law is limited to an individual's property that is part of the Medicaid recipient's estate (assets which pass under a Will or by Intestacy). Hence, assets that pass by operation of law or under a Trust are not subject to recovery. The proposal, if passed, would have expanded the definition of "estate" to include "any other property in which the individual had any legal title or interest at the time of death, including jointly held property, retained life estates, and interests in trusts, to the extent of such interests. This expansion would have caught homes with life estates and assets held in certain trusts.
 
  • Compact "Like" Legislation - Included

It appears that the legislature has considered the Compact concept as worthy of a demonstration project. Even though the project does not adopt all of the proposed Compact provisions, the overall goals and design of the project is Compact "like." We will have to wait and see how the project is implemented and more importantly, the outcome for those who receive benefits from the program.

For more information on the comparison of the Compact to the demonstration project, visit our web site.  
 

Vincent J. Russo & Associates, P.C.

 
Thank You For Making Our Fundraiser A Success!
 
Comedy Club Fundraiser
 
We thank all of you for spreading the word to help make our Comedy Night fundraiser a roaring  success!  
 
There were 108 attendees and raised $2,795 from ticket and raffle sales and donations. 
 
Stay tuned for upcoming events or feel free to visit our website anytime for updates and donation information.

TAPA Summer Camp 2010

TEAM RUSSO
A Community Resource
 
FREE SEMINARS 
 
There are over ten free educational seminars available for seniors and people with special needs that we are either hosting or are a guest speaker.  Contact us for our seminar listings or go to our website for more information.
 
 
 Register online or call
Judy Murdaugh-Jackson at 800-680-1717