Author Archives: Robert W. Shaw

avatar

About Robert W. Shaw

The law firm of Robert W. Shaw, Esq. provides Elder Law, Estate Planning, Real Estate, Probate and Estate Administration and Mediation services to individuals, families and businesses in White Plains, NY.
EMAIL: robertwshaw@hotmail.com
BIO: About Robert
PHONE: 914-328-1222

Power of Attorney: Power in Your Hands
avatar


Authored by , re: Elder Care, on .
Power of Attorney: Power in Your Hands | Robert W. Shaw

{Read in 3:50 minutes} What is a power of attorney? When an individual sets a power of attorney, it means they have appointed a trusted person to act on their behalf regarding any non-medical decisions, such as banking transactions or selling a home, if they are unable to do so because of incompetence or physical inability. The power of attorney is generally a durable power, meaning that it remains valid as long as the principal who made the appointment is unable to act themselves, and requires the signature of both the principal and the agent. For medical decisions, a healthcare proxy is needed.

Click here to read Robert W. Shaw's full article..

 

New York’s Family Health Care Decisions Act
avatar


Authored by , re: Elder Care, on .
New York’s Family Health Care Decisions Act | Robert W. Shaw

The Family Health Care Decisions Act (FHCDA) went into effect in New York State in 2010. The law provides the procedure for appointment of a surrogate to make healthcare decisions for an individual who lacks the capacity to make their own decisions and who does not already have a healthcare proxy or court-appointed guardian in place. It makes it possible for a family member or loved one to withdraw life support for somebody that is in a near-death situation. Otherwise, because the individual does not have an agent to do their wishes, the treatment would have to continue indefinitely. This end-of-life decision-making process only applies in a hospital or nursing home setting. It does not apply in a home care setting.

Click here to read Robert W. Shaw's full article...

Don’t Leave Your Long-Term Care in the Hands of Medicaid
avatar


Authored by , re: Elder Care, on .
Don’t Leave Your Long-Term Care in the Hands of Medicaid | Robert W. Shaw, Esq.

Even if you eventually receive Medicaid coverage from the government, insurance is a valuable supplement to cover the cost of long-term care. At today’s rates, a nursing home can easily cost $120,000 to $150,000 a year in New York. Medicare does not cover the cost of most long-term care situations, so it becomes very difficult for even an upper-middle-class family to pay for coverage. That is why having a long-term care policy can be so valuable.

Click here to read Robert W. Shaw's full article...

 

What’s the Best Way to Transfer My Home to My Child?
avatar


Authored by , re: Trusts, Estates & Elder law, on .
What’s the Best Way to Transfer My Home to My Child? | Robert Shaw

When estate planning, determining the best way to transfer the ownership of a home from parent to child has many implicationsespecially for seniors. There are 3 ways to transfer the ownership of a home from parent to child:

  1. Outright gift
  2. Gift with a reserved life estate
  3. Gifting by trust
Outright Gift The problem with an outright gift is that the child would lose what’s called the step-up in basis.

Click here to read Robert W. Shaw's full article...

 

The Importance of Preparing a Healthcare Proxy and a Living Will
avatar


Authored by , re: Trusts, Estates & Elder law, on .
The Importance of Preparing a Healthcare Proxy and a Living Will | Robert W. Shaw

Without a healthcare proxy in New York State, you will not be able to control who makes your healthcare decisions if you become unable to make these decisions yourself. Living wills are often confused with healthcare proxies. The difference between a healthcare proxy and a living will is that a living will gives evidence for the medical professionals, or the courts, on what your end-of-life wishes are, while the healthcare proxy is the actual legal document in New York State.

Click here to read Robert W. Shaw's full article...

Can the Right Trust Anticipate Your Needs and Set Your Mind at Ease?
avatar


Authored by , re: Trusts, Estates & Elder law, on .
Can the Right Trust Anticipate Your Needs and Set Your Mind at Ease? | Robert W. Shaw

Trusts fall into two main categories: revocable andirrevocable. Revocable trusts are set up by the individual (known as the “grantor”), often for their own benefit, and can be changed at any time. Irrevocable trusts are setup in a manner intending that they not be changed. Both types of trusts can be either living trusts or trusts which take effect upon death, known as testamentary trusts. These are some examples of the many specific types of trusts serving myriad different purposes:

Click here to read Robert W. Shaw's full article...

 

Can the Right Trust Anticipate Your Needs and Set Your Mind at Ease?
avatar


Authored by , re: Insurance Related, Trusts, Estates & Elder law, on .
Can the Right Trust Anticipate Your Needs and Set Your Mind at Ease? | Robert Shaw

Trusts fall into two main categories: revocable and irrevocable. Revocable trusts are set up by the individual (known as the “grantor”), often for their own benefit, and can be changed at any time. Irrevocable trusts are setup in a manner intending that they not be changed. Both types of trusts can be either living trusts or trusts which take effect upon death, known as testamentary trusts. These are some examples of the many specific types of trusts serving myriad different purposes:

Click here to read Robert W. Shaw's full article....