Posts Tagged ‘Retain’

Elder’s Can Lawfully Retain More Assets

Attorney Tobin is a nursing home attorney. As a nursing home lawyer, he often advises clients on various legal techniques including achieving Medicaid (MassHealth) approval, retaining the maximum amount of the elder’s assets, protecting the community spouse, and preventing liens on the elder’s home. It is never too late to act, even if the elder has already entered a nursing home.

For example, a technique nursing home lawyers utilize is a present transfer of assets to the client’s heirs, which benefits both parties: the heir will have the ability to enjoy the assets sooner, and the assets will no longer be considered owned by the elder, which in turn may allow the elder to qualify for Medicaid. Many of these transfers can take place in trust, thereby, protecting the family from other legal issues. However, the rules for these transfers are extremely complex and are governed by various “look back” periods depending on the date of transfer.

The Medicaid field changes often, the most significant changes happening recently with the deficit reduction act. However, even after the deficit reduction act there are several techniques available to help save and conserve your family assets. A nursing home lawyer can help analyze and implement the current strategies available, including but not limited, to:

Conversion of non-exempt assets into exempt assets

Transferring assets

Present transfer of assets to the client’s heirs

Annuitization of Assets

Purchasing a life estate for either spouse

Utilizing a Medicaid-sheltered annuity

Care provider contracts

Medicaid (MassHealth) application

Purchasing long term life insurance

 

In many circumstances it is also necessary to have a nursing home attorney modify the wills, life insurance contracts, and title to real estate in order to allow the elder to be cared for if the healthy spouse predeceases the sick spouse.

To ensure you are lawfully retaining the highest level of assets it is advisable to contact a professional nursing home attorney or nursing home lawyer as they are referred to. Nursing home attorneys will be intimately familiar with the limits of the complex laws and how to protect your family to the fullest extent.

Adam J. Tobin is a member of the National Academy of Elder Law Attorneys and the Massachusetts Chapter of the National Academy of Elder Law Attorneys.


For a free consultation with a nursing home attorney Adam Tobin visit http://www.adamtobinlaw.com or contact Adam Tobin directly at atobin@adamtobinlaw.com or (978) 725-9083.

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How to Retain Women in your Organization, and Support Their Success

What group makes up half of our population, yet only 15.6% of corporate officers in Fortune 500 companies? What group holds half of all management and professional positions in the United States, but less than 3% of the CEO positions in the Fortune 500? Women!

Moreover, studies have shown that companies with the highest representation of women (top 10%) on their top management teams had better financial performance than did the group with the lowest women’s representation. Women purchase 83% of all products and services in the United States, so it makes sense that your employees reflect your customer base. In order to be successful, companies need to recognize what they are doing with respect to women, where they’re succeeding and where they need to improve.

What you can do. You can play a significant role in conveying the importance of the topic, assess what is being done well at your organization and what needs to be improved, and work toward implementing the necessary changes.

In my work helping women succeed in business, I’ve found that two kinds of barriers exist: one is external, male dominated organizations with a subconscious bias against women; the other is internal, how women themselves operate in the corporate world. Much of this is based on gender socialization in the United States. Obviously, there are exceptions to all of these situations. But there has been significant research done, and I’ve witnessed plenty of it in my fifteen-plus years in corporate America. Corporations need to pay attention to the barriers to minimize them, thereby maximizing their success, and women need to be aware of how they position themselves.

Bringing up gender biases in the workforce is a touchy subject. Some perceive it’s casting women as the victim. However, if we don’t admit it can exist, it can’t be addressed. In her book Necessary Dreams, Anne Fels cites a significant amount of research that shows women continue to receive less recognition for their accomplishments than men. This starts at pre-school and happens with both male and female evaluators. For example, in one study, two groups of people were asked to evaluate particular items, such as articles, paintings, and resumes. The names attached to the items were either clearly male or female, but reversed for the two groups. So, what one group believed was created by a man, the other believed was created by a woman. Regardless of the items, when they were credited to a man, they were rated higher than when credited to a woman. This discrepancy was consistent across male and female evaluators. What you can do. Create objective standards for success at your organization. Make success transparent, including performance measurements and competencies. When standards are objective, women succeed.

Another result of male-dominated organizations is that many are structured on the idea that the employee (a man) had someone at home (a wife) taking care of the children and house. This is rarely the case anymore. The fact that women still bear a disproportionate burden of childcare, house care and eldercare results in an additional stress on them in the workplace, and often results in what has been termed “opting out”. See “Off-Ramps and On-Ramps” by Sylvia Ann Hewlett and Carolyn Buck Luce in the Harvard Business Review (March 2005). It offers a comprehensive overview of that phenomenon and what companies can do to reverse the brain drain of women leaving corporate America, and help women when they are ready to reenter it.

What you can do. Support flexible workplaces, put informal structures in place to stay in contact with strong people who have left your company, and make sure someone contacts them on a regular basis.

Talking about internal barriers that women create for themselves can bring up a different kind of resistance, as people perceive it as “blaming the victim.” Instead this approach empowers women to take control of their destinies by finding techniques that increase their success.

Finding a voice in corporate America is still a big issue for women. The range of issues includes not feeling comfortable speaking in public (especially when being the only woman in a group) to feeling very comfortable to speaking in public, but not having your ideas taken seriously because you are a woman. In a recent Catalyst report about women on Board of Directors, a woman director confirmed that “they’re predisposed against hearing you because you’ve got on a skirt.”

In a recent focus groups of professional corporate women, one woman stated it well when she said “If I’m 99% sure, I’ll talk like I’m 95% sure, as opposed to men who talk like they are 150% sure even when they are not. We need more confidence in our communication.”

There are ways of communicating that decrease the speaker’s credibility, which I call “power sappers.” They are more common in women and include the following:

Kerrie Halmi of Halmi Performance Consulting specializes in increasing women

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