38 THE QUEENS COURIER • JULY 9, 2015 FOR BREAKING NEWS VISIT www.queenscourier.com business Employment Matters – Are you an Effective Communicator? Dear Mindy, Sometimes I feel as though people are not listening to what I say. Do you know any secrets that will help me become a more effective communicator? Looking for Answers Dear Looking: We know that building and maintaining good relationships are key to our success in business and in life. Effective communication skills are vital to building those relationships. Answer True or False to the following Communication Statements to see if you are an effective communicator: 1. I tend to say what I think, without considering the consequences of my words. 2. I am sometimes surprised to fi nd that people have not understood what I have said. 3. When someone is talking to me, I use the time to think about what I will say next. 4. If I don’t understand something, I tend to keep it to myself and fi gure it out later. 5. I tend to use email to communicate complex issues since it is quick and effi cient. If you answered True to any of the statements above, you have an opportunity to improve your communication skills. This is my feedback regarding the Communication Statements: The Elder Law Minute TM 1. Your words have an impact on your listeners. Take a moment to consider how the listener will perceive your comments before speaking. 2. There are several different communication styles. Once you understand the style of the person or persons you are speaking with, you will be able to modify your own communication style to get your point across more effectively. 3. To be an effective communicator, you must fi rst be an “active listener”. This means that you actively listen to the speaker without interrupting or using the time to formulate your own answers. 4. Effective communication requires a give and take between the speaker and the listener. Asking good questions shows that you are listening and engaged in the conversation. 5. To be an effective communicator you need to be comfortable using all types of communication methods including email, text, telephone and face to face. How you deliver the message is as important as the message itself. The way in which you communicate your ideas is critical to the success of your business and career. When you communicate effectively it improves relationships, increases work productivity, and helps to develop a great team environment. If you would like learn about your communication style or want to bring a Communication Style Workshop to your business, contact Mindy directly at 718-217-1074. We can provide a simple assessment tool that will increase your understanding about how you or your teams respond to confl ict, stress and problem solving. 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 Questions Frequently Asked of an Estate Planning Attorney: PART I BY RONALD A. FATOULLAH, ESQ. AND DEBBY ROSENFELD, ESQ. As trusts and estates and elder care attorneys, our practice involves meeting with individuals and couples and, based on a lengthy intake, coming up with a comprehensive plan that fi ts the specifi c needs of the client. Very often, clients will come to our offi ce with their own preconceived notions of the documents they will need in order to effectuate their estate plans. Many times the clients are very much on target. However, in many instances, individuals do not necessarily know what the best plan is and the consultation we conduct is extremely elucidating and educational. The following are some of the most commonly asked questions that are posed to us as well as the answers: 1. What is the difference between a will and a lifetime trust? A will is a document that articulates how a specifi c person’s (the Testator) assets are distributed upon his or her death. A will governs those assets remaining in the person’s name alone at the time of death. The will does not go into effect until the Testator dies (at such point the Testator becomes the Decedent) and in order for the Testator’s wishes to be carried out, the will must be admitted to probate. When a will is probated, the person designated to carry out the Decedent’s wishes (the Executor) typically hires an attorney to handle the probate. The probate process involves “proving” the will and is handled in the Surrogate’s Court located in the county in which the Decedent lived. Unlike a will, a trust generally goes into effect as soon as it is signed by the individual who creates the trust (the Grantor) and the individual who will be managing the trust’s assets (the Trustee). This is an “inter-vivos” trust, which is created during the lifetime of the Grantor. Like the will, the trust describes how the Grantor’s assets should be distributed upon the Grantor’s death. However, once the assets are transferred by the Grantor to the trust, i.e., during the Grantor’s lifetime, the trust’s provisions will govern how the assets are managed. For example, if the Grantor transfers several bank accounts to a trust, the provisions of the trust will now determine how the accounts are treated. The terms of the trust may indicate that only the income from the accounts will be paid to the Grantor, with the balance remaining in the trust. If all of an individual’s assets are transferred to the trust during the individual’s lifetime, probate of one’s will can be avoided because there will be nothing remaining in the person’s individual name. 2. When should one choose a trust over a will as part of one’s estate plan? The phrase “probate process” sometimes has negative connotations. People envision the process as lengthy and costly and want to do anything to avoid it. As indicated, when a person with a properly executed will dies with assets in his name alone, the probate process must be initiated in order for the person’s heirs to access these assets. Part of the process involves contacting any person who would have inherited from the Decedent’s estate had there been no will. Such person is referred to as a distributee. The rules governing these distributions are referred to as the laws of intestacy. For example, in New York State, if a man dies leaving a wife and children and has no will, the laws of intestacy dictate that his surviving spouse will inherit the fi rst $50,000 of his estate and the balance of the estate will be divided between the spouse and the children (half to the spouse and half to the children). If a widow dies leaving four children and no will, the four children will each inherit equal shares. The probate process is often straightforward and uncomplicated and should only be avoided when certain criteria are met. For example, if someone has four children but wishes to disinherit one of them, a trust is probably a more optimal vehicle to use. The disinherited child would have to receive notifi cation of the probate and could cause tremendous delay in the probate process. When a will contest is anticipated, a trust is the planning vehicle of choice. The same would be true for a distributee who cannot be located. A trust can also be challenged, but in the context of a will contest, each distributee is given a road map as to how to challenge the will. Conversely, the distributions from a trust do not have to be publicized. Further, if an individual owns real property in more than one state, ancillary probate must be initiated in every state where the property is located. In order to reduce the expense and time constraints, transferring the real property to a revocable trust during the person’s lifetime makes more sense. 3. My father passed away but I have a power of attorney authorizing me to act on his behalf; can I use it? A power of attorney is a document by which the person signing the form (the Principal) authorizes another person or persons (the Agent) to act on his behalf with respect to fi nancial matters. While a power of attorney is a crucial document to have because it ensures that the Principal’s fi nancial affairs can continue uninterrupted by the Agent if the Principal becomes incapacitated, it completely terminates upon the death of the Principal. Once the Principal dies, the power of attorney can no longer be used by the Agent. Each question posed by a client leads to a myriad of other inquiries, and all clients come with their own specifi c facts and circumstances. In a later publication, we will address additional commonly asked questions. 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. Debby Rosenfeld, Esq. is a senior staff attorney at 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 co-founder 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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