Worcester Business Journal

wbjournal.com | January 22, 2024 | Worcester Business Journal 19 By Samantha McDonald Samantha McDonald is real estate lawyer with Worcester law firm Bowditch & Dewey, concentrating on business and real estate property law. 6) Premium gas ranges will fall out of fashion. Gas appliances are on their way out, as electricity becomes king for appli- ances and heating and cooling systems. The Mass. Department of Public Utilities issued an order in December restricting new gas service and putting gas utilities on notice of the goal of a beyond-gas future. New buildings will sport double-insulated windows, heat pumps, and super-tight air seals, changes meant to reduce the strain on the electric grid. 7) Building McMansions just got more complicated. Under the code, new homes more than 4,000 square feet must be all electric or, if they use gas or oil, they must be pre-wired for future all-electric operation and be so-called net-zero properties using solar or wind energy for electricity. 8) Parking lots will look different. 20% of all parking spaces in new multifamily build- ings must be wired for electric vehicle char- gers. Builders aren't required to install them under the code, but the demand for EVs from tenants will grow. 9) There is no good time for adding building regulations. It may not seem like an ideal time to add more burdens on builders, especially with interest rates at record levels. But this summer, Hawaii caught on fire and Arizona got so hot people who fell on the street sustained third-degree burns. Change is always hard, and the cost of not doing anything to reduce climate change seems even worse. As the phrase goes, the best time to plant a tree is 20 years ago; the next best time is now. 10) Worcester has ambitious goals and is making progress. The City, which declared a climate emergency in 2019 and developed an award-winning Green Worcester Plan, intends to have 100% renewable electricity citywide by 2035 and 100% renewable energy for all heating and transportation 10 years later. It has already improved its energy performance by 19% from its 2009 baseline. Worcester is punch- ing above its weight! The first part of Samantha McDonald's column on sustainable development appeared in the Jan. 8 edition of WBJ. Both are available on wbjournal.com. Solid foundation of an estate plan BY EMILY MICUCCI Special to WBJ M ost managers will agree hiring and retaining talented employees is more difficult than it used to be. e labor market is tight, costs make it harder to offer attractive benefit packages, and of course, most professionals became well acquainted with remote work during the coronavirus pandemic and generally enjoyed it. Aside from extreme situations where sullen employees have outright refused to return to the office, most employers understand the desire to spend at least part of the work week in a home office. But what about the countless positions that, for one reason or another, don't lend themselves to ongoing remote work? ey're a harder sell these days, but it's not impossible to entice people to in-office positions. Be descriptive. ere's no reason to be cagey in the job descriptions you post. Explain why a position is in- person, writes recruiting specialist Tony Lewis for human resources solutions company Insperity. Lewis suggests highlighting the crucial aspects of the job, such as collaboration and hands-on tasks. "Potential candidates will need to understand the unique value of the in- person job," Lewis says. Compress. A compressed workweek is one in which a typical number of full- time hours – 35 or 40 – are worked over fewer than five days (generally four). While longer days aren't for everyone, plenty of job candidates would happily work 10 hours over four days to have that fih weekday off, and they may be more productive. DriveResearch reported in May that 77% of people working four-day weeks reported increased productivity. Screen. Take time to find people who want the same thing you do. Working in an office is not a downside for everyone. Talent company Apollo Technical in August reported just 13% of people surveyed prefer to work from home all the time. Nearly the same number of people favor always working in an office setting. is information is easily gleaned in a phone or video interview to screen candidates. Don't be afraid to be choosy. Scaring off the wrong hire isn't a bad thing. H I R I N G F O R I N - O F F I C E P O S I T I O N S Rachael Poirier is an attorney at Worcester law firm Fletcher Tilton specializing in estate and trust administration. Reach her at rpoirier@fletchertilton.com. BY RACHAEL POIRIER Special to WBJ L ife gets busy for everyone. Far too oen, people do not think about their estate plan until much later than they should. Creating a set of foundational estate planning documents will ensure your property is transferred upon your death in the most time and tax-efficient manner possible and prevent you from needing to have a court-appointed guardian and/or conservator appointed for you should you become incapacitated. e essential foundational documents of an estate plan are listed below. Last will and testament - A last will and testament outlines how you would like your property distributed aer your death. You nominate a personal representative who is appointed by the probate court to oversee settling your es- tate. If you have a minor child or a child with a disability, you can nominate a guardian to be appointed by the probate court. You may write a tangible personal property memorandum to direct specific items to individuals or organizations. Revocable living trust - A revocable living trust serves as a property manage- ment tool for your property while you are living. If you become incapacitated, the named successor trustee can easily step in and manage your property, which would eliminate the need for a court-ap- pointed conservator. A revocable living trust eliminates the need for probate court involvement in managing your property, thereby saving time and mon- ey following your passing. For married couples with assets over the Massachu- setts individual estate tax threshold of $2 million, a properly draed revocable living trust can, depending on the total value of the couple's combined assets, significantly reduce estate tax liability. Durable power of attorney - A durable power of attorney allows you to appoint an individual to manage your financial and business affairs. e person you appoint is called an attorney in fact. e creation of this document eliminates the need for a court-appointed guard- ian and/or conservator if you become incapacitated. Healthcare proxy - A healthcare proxy allows you to name a healthcare agent to make medical decisions on your behalf should you become unable to do so. HIPAA release - e Health Insurance Portability and Accountability Act of 1996 protects access to one's personal health information. You can release this information to a personal representative should they need access to it. In addition to these foundation- al documents, other estate planning strategies should be considered, such as asset protection for long-term care costs, planning for a family member with a disability, and excluding the death bene- fit of life insurance from being subject to estate tax liability. If you don't have an estate plan or have one that hasn't been reviewed by an experienced trust-and-estate attorney in the last five years, you should consult with one to provide you with recom- mendations as to how to protect your loved ones. Having a basic foundational estate plan in place, and updating it regularly, will give you peace of mind to get back to that busy lifestyle. 10 THINGS I know about... ... Sustainable development, part 2 W W W

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