Boomers Retirement Plans

Friday, August 14th, 2009

Times have changed, and the priorities come along with it.  This is true for the seniors and baby boomers as well.  Today, it’s more essential than before to plan your future given the increasing financial abuse received by seniors from caregivers or loved ones and the tough economic times.

Until now, the preceding American generation had been better off economically compared to their parents due to their inheritance, thriving economy, and job opportunities.  However, recent times don’t seem to be well.  It would be a good bet if the boomers will inherit a single title from their parents.  And the boomer’s children may even get less.

All these mean that seniors and boomers need to develop a plan for life, due to possible incapacity and inevitable death.  This planning process does not only involve “estate planning” or “financial planning” but “life planning,” “death planning,” “burial planning,” “nursing home or long-term care planning,” and even “pet planning” as well.

Creating and implementing these plans would need a huge multidisciplinary effort coming from a qualified team of professionals.  Among others, see a lawyer to help you handle your assets and complete your plan in case of incapacity, disability, and death.

Tags: American, baby boomers, death, disability, Estate Planning, incapacity, lawyer, priorities, seniors
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Preparing for your Final Hours

Tuesday, July 28th, 2009

For the moment, forget about health-reform debates.  You should have a living will that specifies the kind of care for your life if you are unable to speak for yourself.  Ethicists, lawmakers, and doctors have been urging the Americans to do this but in nursing homes, less than half have done so.  Overall, less than one third of American adults also have a living will.

According to a report from Rand Corp. in Congress, many people are baffled by legalities and don’t understand the consequences and options.  In addition, patients and doctors alike are reluctant to bring up the subject of death.

Advance directives are truly for the living as well as for the dying.  Without your specific instructions, your family members may not be able to decide if they would keep you artificially alive, let you die when you have no hope for recovery, or what level of disability you would like to live with.

A registered nurse at Inova Hospital (Falls Church, Va.), Audrey Seeley, said “Everyone knows they will soon die, but it’s scary to think how.  I see many incapacitated patients say that they don’t care what happens to them.  But their family really does.”

Tags: American, Audrey Seeley, Congress, death, die, disability, Inova Hospital, lawmakers, legalities, living will, Rand Corp, Wills
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Work Laws Compensate for Injuries

Sunday, May 3rd, 2009

When employees are disabled or injured on the job, they should be provided with permanent or fixed monetary awards. This is already stipulated in work laws; therefore, there should be no need for litigation.

However, there are times when private employers or companies undermine these laws. Take note that if they failed to pay you or your co-worker for injuries sustained on the job, you can contact a workers compensation lawyer in your area to seek help.

Work laws include:

• Factory machine injuries
• Construction accidents
• Work vehicle accidents
• Wrongful death
• Disability
• Slips and falls

You can request a “commutation” if you want a part or your entire permanent disability award in a lump sum. Through the order of your local Worker’s Compensation Administrative Judge, payment can be made either through you or your lawyer.

On the other hand, “compromise and release” is a workers’ compensation case final settlement. The parties will agree on one lump sum payment which usually settles all issues except for the employee’s future vocational rehabilitation.

In 2002, private companies reported that there were 4.7 million illnesses and non-life threatening injuries. With this result, there were 5.3 cases of work-related injuries per 100 full-time workers, as surveyed by Bureau of Labor Statistics.

Tags: commutation, compromise and release, disability, law, lawyer, work laws, workers compensation lawyer
Posted in Disability Benefits, Injury | No Comments »