50 THE QUEENS COURIER • JANUARY 14, 2016 FOR BREAKING NEWS VISIT www.qns.com business EMPLOYMENT MATTERS – GOAL SETTING Dear Mindy: Lots of people make New Year’s resolutions, but few seem to keep them. Do you have some tips to help me achieve the goals I set for myself? Goal-setter Dear Goal-setter: The most successful people use goals to effectively set targets for themselves and the organizations they represent. Here are a few tips: 1. Set short-term goals: Set very specifi c short-term goals that will help you achieve larger long-term goals. Setting and achieving goals takes a lot of consistent effort that allows for gradual, but steady growth. 2. Write goals down: If you don’t document your goals, it is likely you will forget them. Use a tool (i.e., Outlook, your calendar, a white board etc.) that will help you to remember your goals on a daily basis. Celebrate and motivate yourself by checking off the goals you successfully achieve. 3. Have realistic goals: If you set unrealistic goals you will not be able to attain them and may become demotivated. Make sure you know what outcome you hope to achieve and be realistic about the amount of time you can devote to your goals. 4. Is it important to you? Make sure that the goals you select are relevant and important in your life. Ask yourself – “If I achieve my goal will the end result be worth the effort I need to put in?” If the answer is “No”, then move on to the next. 5. Set deadlines: Set priorities so that you can manage your time effectively and don’t be afraid to say no to time-wasters. Once you set a deadline, rather than changing it, adjust your goals to be more realistic. Many people work with coaches to help them successfully achieve their goals. For a free Action Planning Worksheet to help you set and achieve your goals, send your request to info@aimresourcegroup. com. If you would like to learn how coaching can help you visit the website at www.aimresourcegroup. com . Mindy Stern, SPHR, SHRM-SCP, ACC is a trusted HR advisor, career coach, author, speaker and president of AIM Resource Group Inc. Visit the website at www.aimresourcegroup. com or call 718-217-1074 to get RESULTS! Do you want your questions answered in this column? Send requests to: www.askmindynow.com The Elder Law Minute TM Will a Divorce Revoke My Will? BY RONALD A. FATOULLAH, ESQ. AND spouse from any designated interest in his/her estate. YAN LIAN KUANG-MAOGA, ESQ. However, you should not rely on the revocation and should take affi rmative steps to review your How does a divorce affect a will? The good news estate plan and make any necessary adjustments. is that a divorce will revoke all revocable bequests The revocation treats the former spouse as if he/ to a former spouse and any of your appointments she had predeceased you, which means that your of your former spouse. However, you cannot rely contingent designations come into effect, if you on this automatic revocation alone. It is always have them. You must review everything to ensure recommended that you review your estate plan after that you have contingent designations and that the a divorce, or even better, once you have begun to contingent benefi ciaries still align with your wishes. contemplate one. For example, on a bank account you should make While married, many of us have formal or informal sure there is a contingent benefi ciary - otherwise the estate plans involving our spouse. We may have a account becomes a probate asset that may require will which leaves our assets to our spouse and names court approval to access. Additionally, you should him/her as our executor. We may have benefi ciary, ensure that you have a contingent agent named in “in trust for,” or “transfer on death” legal documents, such as a Health Care Proxy. It designations on our accounts for is very important to note that the the benefi t of our spouse. We may law only revokes the benefi ts of also have named our spouse as an the former spouse, but not any agent under a Health Care Proxy of his/her relatives. Therefore, and Power of Attorney. The law if you have named a relative is clear that a divorce (with fi nal of your former spouse in any decree or judgment of divorce) capacity under your estate plan will by itself revoke all those designations made in and you no longer want the relative to be a part of favor of the former spouse. This rule also applies your plan, you must make the necessary changes to with a fi nal decree or judgment of annulment or remove him or her. It is also advisable to affi rmatively separation. The law treats the former spouse as if he/ remove your former spouse from all designations, she had predeceased you. If the divorced parties were because third parties (i.e. banks and other to remarry each other, the remarriage would revive all the designations made in favor of the spouse This automatic revocation by divorce helps those who may not have taken the steps to remove the former fi nancial institutions) are not liable if they distribute funds to your former spouse unless they have actual notice of the divorce. For example, if your former spouse was named as an agent under your Power of Attorney, make sure that you revoke the prior power of attorney and bring the revocation and new power of attorney to the bank to be updated on your bank records. Finally, be aware that this automatic revocation only takes effect when you receive a fi nal decree or judgment of divorce (or annulment or separation). Therefore, it is critical for you to review and revise your estate plan during the pendency of your divorce and even beforehand. Take the case of Khloe Kardashian and Lamar Odom: they had been separated and a divorce was imminent but not fi nal, which meant that Khloe, still Lamar’s wife in the eyes of the law, was able to step in to make health care decisions for him. A soon to be ex-spouse making health care decisions is probably not desirable in most cases, which is yet another reason why you should have your estate planning reviewed when considering a divorce. Ronald A. Fatoullah, Esq. is the principal of Ronald Fatoullah & Associates, a law fi rm that concentrates in elder law, estate planning, Medicaid planning, guardianships, estate administration, trusts, wills, and real estate. Yan Lian Kuang-Maoga is an elder law attorney with the fi rm. The law fi rm can be reached at 718-261-1700, 516-466-4422, or toll free at 1-877-ELDER-LAW or 1-877-ESTATES. Mr. Fatoullah is also the cofounder of JR Wealth Advisors, LLC. The wealth management fi rm can be reached at 516-466-3300 or 800-353-3775. ELDER LAW RONALD FATOULLAH ESQ, CELA*
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