Robert W. Shaw
Every family, regardless of income and assets, should have an estate plan. In my last article, we talked about why estate planning is important. In this article, I share a few more compelling reasons to consider an estate plan. Here are some examples: It is important to have a will. If one dies without […]
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Despite what folks may believe, tax savings are not the only reason to create an estate plan. Why? Well, many people think that estate planning only applies to individuals who have to pay estate taxes. The planning, however, is valuable for many reasons beyond tax purposes. Far fewer estates are now subject to estate tax, […]
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The term fiduciary is defined as a “person who stands in a special relation of trust, confidence, or responsibility in his obligations to others.”
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There are a number of reasons to consider placing your assets in a trust. There are also times when a trust is unnecessary, so exercise caution when making the decision. Many people choose a trust as a means to avoid probate after an individual passes away. This is a good idea if the deceased had […]
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In one of my previous articles, I pointed out the importance of having a Power of Attorney (POA). It’s also important to decide what powers the principal wants to give to the agent in the Power of Attorney. The standard Power of Attorney form in New York State lists broad categories of powers that a […]
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In the internet age that we are all now living in, one doesn’t always stop to think about our online accounts as being assets of our estate. The fact is, however, that due to our ID and password, each of these accounts belong to us individually. When an individual passes away, if can be very […]
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In my last article, we discussed everything the executor can do before being officially appointed as an executor. This post will outline everything the executor does after they receive their appointment from the court. The process the proposed executor must follow to get the will successfully probated is to submit a petition with the original will […]
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If someone is named the executor under a person’s will, their job is to carry out the express wishes of the decedent. Even before being formally appointed by the court, the executor should: Follow the decedent’s burial and memorial instructions. The executor may have to arrange for the funeral and burial, and will need to […]
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Most people feel that their pets are members of their family. Historically, pets have been treated as personal property, but as the animal rights movement is becoming more active, the law is gradually changing.
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Many families take care of a physically or mentally disabled child—and they worry about that child’s care once they are no longer able to be their guardian. A supplemental needs trust is a way to protect the funds of an individual without jeopardizing government benefits. There are two types of supplemental needs trusts: A first-party […]
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The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. I invite you to contact me and welcome your calls, letters and electronic mail. Contacting me does not create an attorney-client relationship. Please do not send any confidential information until an attorney-client relationship has been established.
Robert W. Shaw is licensed in New York.
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