Understanding Guardianship and Conservatorship [Episode 66]

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Attorney-CPA Joe Cordell and co-host Susan Arthur break down the history of a Durable Power of Attorney and explain that a guardian refers to the care of the physical person, as well as the person appointed to make decisions about personal care, where you live, etc. Joe also describes how a conservator is in charge of taking care of your assets.

He highlights the protective mechanisms and precautions built within the court when it comes to the appointment of guardianship and conservatorship. Joe and Susan discuss the difference between being incompetent and being bad with money, as well as the liabilities that family members may have when taking on one of these roles for a loved one.

Joe dives into what negligent entrustment is and how the foreseeability of something bad happening can play a factor in what someone in a role like a guardian or someone with a durable Power of Attorney is liable for.

Establishing a Durable Power of Attorney [Episode 65]

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Attorney-CPA Joe Cordell and co-host Susan Arthur dive back into durable Power of Attorney, as they break down the general version, as opposed to the health care version. They talk about different options that surround the durable Power of Attorney, such as whether or not you want the durable Power of Attorney to be in effect immediately and the amount of authority you give someone.

Joe and Susan discuss the importance of having someone spring into action when an emergency arises and the role of a fiduciary in the Power of Attorney process. A fiduciary’s duty when it comes to a Power of Attorney differs from when it comes to trusts, and Joe and Susan discuss the importance of choosing the right person to fill that role for each entity.

Joe highlights the importance of cataloging and organizing important documents and information, in relation to the agent in a durable Power of Attorney and trustees when trusts are in use. He talks about where to start in your elder planning, if you have yet to start.

Navigating Family Issues in Estate Plans [Episode 64]

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[vc_row][vc_column][vc_column_text]Attorney-CPA Joe Cordell and co-host Susan Arthur touch upon the will and probate process discussed last week before they dive into the possible conflict that can arise among families regarding estate plans. Joe will explain how courts handle no contest clauses with wills and how many going through the estate planning process will initiate a transfer before the estate plan goes into effect, in an effort to prevent conflict.

He details why a video may be a beneficial medium, in detailing the wishes of the estate plan in many situations. Joe explains that a spousal share entitles a spouse a share of the estate. They talk about the ins and outs of an augmented estate, which is a court consideration of a transfer intended to defraud the marital rights of the surviving spouse.

Joe also breaks down durable Powers of Attorney for health care and how important it is to find the right person to appoint as your agent.[/vc_column_text][/vc_column][/vc_row]

The Positives of Probate [Episode 63]

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Attorney-CPA Joe Cordell and co-host Susan Arthur continue last week’s discussion, touching on irrevocable trusts and how the entity allows for the flexibility that many are looking for in their estate planning. They explain the features and limitations of irrevocable trusts and how the experience of an elder law attorney can assist you in determining if they are the best option for you and your estate.

Afterward, Joe and Susan dive into the probate process, highlighting the ins and outs of this necessary procedure. They discuss the interpersonal side of the process and how it can affect the financial side.

Probate is a procedure that can take time and cost money, but the process offers the protection and analysis that you need, in order to make sure that your wishes are honored. Joe and Susan discuss what happens with probate when someone dies without a will versus when they do have a will.