Looking Into Long-Term Care Facilities [Episode 101]

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Attorney-CPA Joe Cordell and co-host Susan Arthur make an announcement regarding the show, detailing how ElderTalk with Joe Cordell is going to highlight living arrangements as you age more often on the show.

On this episode, Joe and Susan are joined by Cordell Planning Partners Business Manager Keri Stoner to discuss the variety of communal living arrangements available in the St. Louis metropolitan area.

They talk about the upcoming audio tours that Susan and Keri will be conducting, in order to portray them and their services for the listening audience. Joe details how they will have complete editorial freedom and will be able to offer criticism, in order to fully provide as much information as possible regarding the given facility.

Susan tells a personal story about her in-laws and their journey to moving into a facility, in order to maintain the balance of comfort and social interaction that they needed. They discuss going into the facility while you still have the ability to choose, as well as ways to pay for long-term care.

The Importance of Naming a Beneficiary [Episode 100]

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Attorney-CPA Joe Cordell and co-host Susan Arthur discuss some of the speed bumps that can occur when you designate someone as a beneficiary in a will. Susan tells the story of a couple and the controversy surrounding the late wife’s pension fund and which family member or members she named as the beneficiary or beneficiaries to her pension fund.

Joe explains a variety of legal terms and clauses that factor into who is determined to be the beneficiary of a will. He also breaks down the pros and cons of having your assets go through your estate, rather than directly to the named beneficiaries. Joe follows up by talking about problems that can occur within the language of naming a beneficiary.

Joe also talks about how being a beneficiary can affect your qualifications for Medicaid, as well as how an irrevocable trust can help balance your surviving beneficiary’s need to qualify for Medicaid for future long-term care, with your need to plan your estate and name your beneficiary.

Is Medicaid Right for You? [Episode 99]

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Attorney-CPA Joe Cordell and co-host Susan Arthur continue their ongoing discussion on Medicaid and long-term care. They describe the social and homely environment that many long-term care facilities and nursing homes attempt to cultivate, as well as the factors that allow you to qualify for Medicaid.

Joe highlights the evolution in financial strategies on how people spend and save their money as they age. He talks about the events and occurrences, such as trips or large purchases, that someone may want, which may make Medicaid planning a poor fit for them.

Joe talks about the usefulness of an irrevocable trust and how making financial sacrifices through frugal living can come at the cost of experiences in your senior years. Joe and Susan also answer a listener question regarding protecting a savings account, in case the listener incurs health expenses.

They also answer a listener question regarding whether or not there is a downside in bringing a loved one home from a nursing facility, as it pertains to Medicaid and finances, as well as a question asking what to do if you have too much money for Medicaid, but not enough money for nursing home costs.

Dissecting Medicaid, Medicare, and Long-Term Care [Episode 98]

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Attorney-CPA Joe Cordell and co-host Susan Arthur dive into everything surrounding Medicare, Medicaid, and the long-term care you may receive as you get older. They talk about the differences between Medicare and Medicaid, as well as who these particular programs are for.

They talk about the small percentage of long-term care that Medicare legally is allowed to cover, as well as Medicaid qualifications. Understanding what is required, in order to qualify for Medicaid is necessary if you wish to utilize the program to pay for long-term care costs. Joe talks about the perceptions that many have regarding Medicaid and how utilizing it is not an unethical method in paying for long-term care.

Joe highlights what you can and cannot own, in order to qualify for Medicaid. He also touches on how spouses and dependents factor into the qualifications of Medicaid. Joe also talks about the use of an irrevocable trust and how that may be able to protect your assets at the cost of your access to them.

Joe also talks about the financial transactions that you can take that may result in Medicaid penalty. They also answer a listener question regarding a car and how that can factor into Medicaid qualifications.