From the Expert | Protecting Your Loved One’s Legacy with Estate Planning
In our previous blog, we spoke with a wealth advisor about the importance of financial planning for aging loved ones. As we learned, this planning often involves key decisions around savings, tax strategies, retirement preparation, and estate planning.
Today, we’re taking a closer look at estate planning. This process involves creating a set of legal documents that outline how an individual’s assets, finances, and healthcare decisions will be managed if they become incapacitated, as well as how their assets will be distributed after their passing. Beyond outlining the “what” and “how,” an estate plan also designates who is authorized to make important decisions on a person’s behalf when they are no longer able to do so themselves.
To better understand how to protect an aging loved one’s assets and legacy, we spoke with Allyson Russo, Attorney and Owner of Russo Law Offices. Allyson specializes in estate planning, trust administration, and probate, and shares valuable insights on why legal guidance is a critical part of the process.
Estate Planning Q&A with Allyson Russo of Russo Law Offices
1. Tell us about yourself and what led you to Estate Planning.
I began my career as a corporate attorney at a large law firm, where I advised businesses on mergers and acquisitions. While the work was demanding, I was drawn to its strategic and detail-oriented nature.
Interestingly, my path to estate planning began when my husband and I created our own estate plan. During that process, I noticed clear parallels between estate planning and M&A work—both require thoughtful structuring, balancing competing interests, and crafting solutions that serve everyone involved.
As an attorney, I’ve always been more passionate about problem-solving than litigation. Estate planning allows me to do exactly that, while also making a meaningful, personal impact on individuals and their families.
2. What does your typical work day look like?
My primary goal is to make the estate planning process clear, approachable, and meaningful for every client.
On a typical day, I spend my time:
- Consulting with clients to identify their goals and planning needs
- Drafting and reviewing wills, trusts, and related documents
- Guiding clients through implementation to ensure their plans function as intended
3. What are the primary Estate Planning services you offer?
At Russo Law Offices, we provide a comprehensive range of estate planning services, including:
- Preparing wills, trusts, and related documents
- Assisting with trust and estate administration, and guiding fiduciaries through their responsibilities
- Managing probate matters and helping families navigate the legal process
4. When is the best time to work with an Estate and Trust Attorney?
When it comes to estate planning, sooner is always better. We often work with young adults who are ready to build their first comprehensive plan after purchasing a home or starting a family.
That said, estate planning is valuable at any stage of life. If your aging loved one has not yet created a plan, it’s important to help them understand the value of planning ahead and encourage them to begin thinking through their wishes.
For those who already have a plan in place, we recommend reviewing it every three to five years—or sooner following a major life event such as a marriage, divorce, birth, or inheritance. Regular updates help ensure plans remain aligned with current circumstances and goals.
5. Can you share an example of a positive outcome from estate planning?
While many clients have straightforward plans—such as leaving assets to a spouse or children—family dynamics are not always simple. We often work with situations involving estrangement, financial challenges, or addiction.
I once worked with a client who was initially hesitant to share personal details about her family. She eventually disclosed that one of her children was struggling with addiction and was concerned about how that might affect her estate plan.
Together, we designed a plan that provided meaningful support for all of her children, while also incorporating safeguards to protect the child who needed additional oversight. After finalizing her plan, she felt a deep sense of relief knowing her wishes were clear and her family would be supported.
6.What is your best advice for families with an aging loved one experiencing sudden life changes?
If possible, ensure your loved one’s estate planning documents are in place and up to date. Having a plan can make an already difficult time significantly more manageable.
If planning is no longer possible due to incapacity or death, try not to panic. An experienced attorney can guide you through next steps, such as guardianship or probate proceedings.
Above all, remember that you don’t have to navigate this alone. Whether you’re helping a loved one build a plan or managing changes after the fact, it’s normal to feel overwhelmed. Take care of yourself and don’t hesitate to lean on available resources, including professional legal guidance.
Ready to start planning for your loved one’s future?
Learn more about Russo Law, and how they can help manage your estate planning needs today.
If your aging loved one is ready to thrive in their next stage of life, Open Arms can help find the best quality care services to fit their needs. Schedule a free in-home assessment or call (847) 272-4997 today.