Michigan Estate Planning Blog

Estate Planning And The Specter Of Alzheimer’s

Alzheimer’s is no ordinary condition. What it means to the patient and to their mind is simply unique, just as it is uniquely meaningful to the family. Unfortunately, it is also a uniquely meaningful condition when it comes to estate planning and there are very important steps to take sooner rather than later. Planning for one’s estate and for one’s late-in-life plans requires more than a bit of wherewithal. This is not only an empirical fact but also a legal one. Because Alzheimer’s and dementia affect the mind means certain legal choices, whether regarding healthcare or disposition of property to one’s heirs, simply have to be down and in writing well before they are questionable. It’s a complex problem. Fortunately, there are some important tools to keep in mind early and get a plan in place. Some of the basics were helpfully pointed out in a LifeHealthPro article last month titled “4 things to know about Alzheimer’s and estate planning.” The four things? • Collect Your Documents: that is, all of the important documents should be easily at hand or easily discoverable for when they are needed, and not by the patient but by whoever cares for them. • Property Management: perhaps more appropriately, you should have a plan for assets in this life and an estate plan to direct assets thereafter. • Advanced Directives: these documents spell out important decisions and/or give that decision-making power to others through a Durable Power of Attorney, a Living Will, and Medical Directives (like a Do Not Resuscitate order). • A Living Trust: a trust can be all the more useful in organizing and disposing of property as well as allowing another to manage it, which is that much more powerful for an Alzheimer’s patient. These are just the basics. Regardless, and not without coincidence, these are important basics steps and tools when it comes to any estate plan. Planning in anticipation of Alzheimer’s is no different than the planning one ought to do anyway. But then, to the extent many of us will be affected by Alzheimer’s or dementia, it only stands to reason that we should all be diligent in our planning. Once we have one of these conditions, it could be too late to plan for anything. Be sure to get your own estate in place and work with your elderly loved ones to ensure they have the plans in place allowing for you to care for them.

Reference: LifeHealthPro (March 11, 2014) “4 things to know about Alzheimer’s and estate planning”

For more information, see www.jerryreiflawyer.com

Older Workers Improve Their Resumes to Maximize Hiring Potential Saginaw, Michigan

This is typically the time of year when many employers re-evaluate their staffing needs. Some decide to hire additional talent, and others feel they need to cut some non-essential positions for the greater good of the company. Either way, having an updated resume ready at the New Year is a wise plan. For older individuals, reaching retirement means managing a budget with savings, social security, and part-time income. Having a polished resume is extremely important, as an analysis of the most recent job data by the AARP Public Policy Institute shows. Consider this: unemployment for older job seekers is now 56 weeks on average, compared with 37 weeks for younger workers. In light of this trend, it is crucial for older workers to revise their resumes to catch the eye of potential employers. As reported recently in The Wall Street Journal, a new program known as the American Association of Community Colleges’ Plus 50 Initiative is helping seniors do just that. The Plus 50 Initiative recognizes the experiences, skills, and leadership that the baby boomer generation possesses. Given the possibility of unemployment facing many older workers, the Plus 50 Initiative seeks to harness the experience of an older generation and use it to teach new skills to an already successful generation. Many times, the only thing standing between a senior and a job is a lack of technical knowledge and computer experience. Taking a short class on computer software is one of the best ways for older job seekers to brush up on these skills, enhance their resumes, and show employers that they are up to date with technology. Now is the time to reevaluate how you can better market yourself in an ever-changing economy and job market.References:

The Wall Street Journal (October 5, 2012) “Can classes give older workers an edge?

For more information, see www.jerryreiflawyer.com

 

Avoid Losing Your Most Talented Employees Saginaw, Michigan

It’s no secret that the men and women in today’s workforce will change jobs frequently. Furthermore, it’s not a secret that training employees is costly and that good talent is hard to find. With that said, why don’t more CEO’s and managers focus on retaining talent? A recent Forbes article sheds some light on the disconnect and discusses the “10 Reasons Your Top Talent Will Leave You.” The abbreviated version includes: 1. You failed to unleash their passions. 2. You failed to challenge their intellect. 3. You failed to engage their creativity. 4. You failed to develop their skills. 5. You failed to give them a voice. 6. You failed to care. 7. You failed to lead. 8. You failed to recognize their contributions. 9. You failed to increase their responsibility. 10. You failed to keep your commitments. If you have seen a high rate of turnover within your company, this article may be worth reading. But once you’ve read the article, follow through with its suggestions or else you may continue to lose your most talented employees.'

Reference:  Forbes
(December 13, 2012) “10 Reasons Your Top Talent Will Leave You”

For more information, see www.jerryreiflawyer.com

 

Avoid Losing Your Most Talented Employees Saginaw, Michigan

It’s no secret that the men and women in today’s workforce will change jobs frequently. Furthermore, it’s not a secret that training employees is costly and that good talent is hard to find. With that said, why don’t more CEO’s and managers focus on retaining talent? A recent Forbes article sheds some light on the disconnect and discusses the “10 Reasons Your Top Talent Will Leave You.” The abbreviated version includes: 1. You failed to unleash their passions. 2. You failed to challenge their intellect. 3. You failed to engage their creativity. 4. You failed to develop their skills. 5. You failed to give them a voice. 6. You failed to care. 7. You failed to lead. 8. You failed to recognize their contributions. 9. You failed to increase their responsibility. 10. You failed to keep your commitments. If you have seen a high rate of turnover within your company, this article may be worth reading. But once you’ve read the article, follow through with its suggestions or else you may continue to lose your most talented employees.

Reference:  Forbes
(December 13, 2012) “10 Reasons Your Top Talent Will Leave You”

For more information, see www.jerryreiflawyer.com

Avoid Losing Your Most Talented Employees Saginaw, Michigan

It’s no secret that the men and women in today’s workforce will change jobs frequently. Furthermore, it’s not a secret that training employees is costly and that good talent is hard to find. With that said, why don’t more CEO’s and managers focus on retaining talent? A recent Forbes article sheds some light on the disconnect and discusses the “10 Reasons Your Top Talent Will Leave You.” The abbreviated version includes: 1. You failed to unleash their passions. 2. You failed to challenge their intellect. 3. You failed to engage their creativity. 4. You failed to develop their skills. 5. You failed to give them a voice. 6. You failed to care. 7. You failed to lead. 8. You failed to recognize their contributions. 9. You failed to increase their responsibility. 10. You failed to keep your commitments. If you have seen a high rate of turnover within your company, this article may be worth reading. But once you’ve read the article, follow through with its suggestions or else you may continue to lose your most talented employees.

Reference:  Forbes
(December 13, 2012) “10 Reasons Your Top Talent Will Leave You"