Learning More About Gray Divorce [Episode 110]

/in , /by

Subscribe: Apple Podcasts | RSS

Attorney-CPA Joe Cordell and co-host Susan Arthur talk about the trend of “gray divorce,” or divorces that occur from the age of 50 and older. Susan details some of the major statistics surrounding the issue, while Joe details some of the risks involved in getting a divorce at such an advanced age. Joe highlights how the division of assets can impact retirement and pension plans, as well as how taxes impact the situation. He talks about the marital home and how age can play a factor in when a couple decides to get married. Joe also lists the costs involved in creating two households, insurances, and all additional costs that add up when you begin the divorce process. He details the steps that people have to take in their estate plans and long-term care planning after they go through the divorce process. He also talks about the rules regarding social security and divorce.

Protect Yourself With a Plan in Place While Overseas [Episode 109]

/in , /by

Subscribe: Apple Podcasts | RSS

Attorney-CPA Joe Cordell and co-host Susan Arthur discuss the legal implications and challenges of unexpected injuries or deaths that occur while on trips and vacations. They talk about possible sources of the problems that cause unexpected injuries during trips or vacations, as well as being prepared with the resources necessary to facing the unexpected during these situations.

Joe and Susan present a checklist of practical insights on how to face injuries or other physical debilitations while on a trip or vacation. This checklist includes making sure that you have a will or trust in place, some type of advanced health care directive, paying for health care and evacuation when on a trip or vacation, insurance, and your digital assets that are protected by passwords or the necessary inscriptions that you may want to give the agent of your Power Attorney access to.

Joe also talks about treaties that are in place to accommodate the health care directives involved in a durable Power of Attorney.

Avoid Common Missteps in Your Estate Plans [Episode 108]

/in , /by

Subscribe: Apple Podcasts | RSS

Attorney-CPA Joe Cordell and co-host Susan Arthur dive into some of the more common mistakes that people make when estate planning. They talk about the hazards surrounding losing track of where your will is or not updating it.

Joe and Susan also talk about the complications surrounding pets and providing for them in your estate plan. They bring up pet custody and the modern commonality of including your pet in your estate plans through the uniform trust code.

They highlight some of the issues surrounding property, as well as creative property, and make recommendations, including putting property within a revocable living trust. Joe talks about the use of a deed of gift within a trust and how beneficial this mechanism can be.

Joe talks about the benefits of a trust owning an asset, in order to offer the asset and your loved ones protection from financial hardship or other risks.

Joe and Susan explain how interpersonal dynamics can play a factor in various parts of the estate planning experience, as well as how you should avoid surprising your spouse with the details of your will.

The Hazards of Forms in Estate Planning [Episode 107]

/in , /by

Subscribe: Apple Podcasts | RSS

Attorney-CPA Joe Cordell and co-host Susan Arthur caution the hazards surrounding forms on this episode of ElderTalk with Joe Cordell. They discuss the importance of planning for your future, and not just after you die, as well as the consequences of choosing a more inexpensive and convenient method of estate planning, as opposed to meeting with an elder law attorney.

Joe navigates the ins and outs of a testamentary trust, a beneficiary deed, and a payable on death provision. Susan tells a cautionary story of someone who utilized a form for his estate planning, forgot purchased stocks, and it ended up costing his loved ones after his death.

Joe emphasizes making your trust a beneficiary, in order to move assets into the trusts. He describes what you, as the client, are entitled in your estate planning documents and how they meet your unique priorities. Joe also highlights the importance of having a springing Power of Attorney.