Visiting Villages of St. Peters Memory Care [Episode 102]

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Co-host Susan Arthur begins her journey highlighting nursing homes and long-term care facilities within the St. Louis metropolitan area with the Villages of St. Peters Memory Care in this audio walking tour. She joins Villages of St. Peters Memory Care administrator April Haskins. April takes Susan through the facility and talks about how some of the features of the facility, such as a pool table or various games, can be utilized to stimulate community members who suffer from dementia.

April describes the neighborhood concept of Villages of St. Peters Memory Care to Susan and how it provides the comforts of home. She talks about the role of the staff members in getting community members to participate in the many activities that the facility offers. April also talks about how each member provides all of their own belongings to their room.

April talks about her role as a representative responsible for educating families on the journey that their senior family member is experiencing. She also talks about the different stations that are available in each community.

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.

Avoiding Power of Attorney Mistakes [Episode 97]

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Attorney-CPA Joe Cordell and co-host Susan Arthur highlights cautionary tales of celebrities and notable figures who have made mistakes in planning for the future. They talk about how these individuals’ care and finances went wrong before they died, due to the lack of protection and planning for the uncertainty of the future.

Joe and Susan talk about the importance of trusting the person that you give agency of your well-being in your Power of Attorney and weighing the pros and cons of choosing a child or family member, considering whether or not they have good judgment and will look out for your best interests.

They talk about the cases surrounding Hollywood actress Brook Astor, radio personality Casey Kasem, astronaut Buzz Aldrin, author Harper Lee, Marvel Comics great Stan Lee, and businessman Sumner Redstone. Joe breaks down the types of Powers of Attorney and when they would take effect, as well as the oversight that Powers of Attorney need, in order to prevent problems while incompetent.

Joe highlights the benefits of having a trust and how important designating a trigger and trustee is to the protection of your assets.

Leaving This World Alone [Episode 96]

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Attorney-CPA Joe Cordell and co-host Susan Arthur discuss the issues surrounding the possibility that we may find ourselves alone at the end of our lives. They talk about the historical and cultural events that have caused this to occur within the societal family dynamic, as well as life care and how vital planning is to the aging process.

Joe talks about the importance of picking someone with good character and good judgment when choosing them as your durable Power of Attorney. He highlights the benefits of utilizing a trust and talks about the charitable options that you have, if you choose to give a gift to a charitable organization as you get older or after you die.

Joe details the ins and outs of the gift giving process and how it impacts taxes. He also talks about what may be involved from a legal standpoint if you have a pet that outlives you and how you can create a trust in the state of Missouri for your pet.

Making Balanced Financial and Estate Planning Decisions Part 2 [Episode 95]

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Attorney-CPA Joe Cordell and co-host Susan Arthur are rejoined by last week’s guests, Wealth Advisors and Certified Financial Planners Todd Oetken and Grant Roberts, both of Hilliard Lyons, a Robert Baird Company. They talk about their background in Certified Financial Planning and how the qualifications of your Certified Financial Planner can help shape the way you plan for the future.

They highlight the reasons why you need to weather small losses when investing, as well as listening to your Certified Financial Planner’s advice regarding what you do with your money. Todd talks about many of the questions that Certified Financial Planners ask their clients regarding their goals, what they wish to do with their money, and how they wish to protect their assets moving forward.

Joe also asks Todd about the type of employees at Hilliard Lyons and how their certifications and financial experience can benefit the plans for the future for a client.

Making Balanced Financial and Estate Planning Decisions Part 1 [Episode 94]

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Attorney-CPA Joe Cordell and co-host Susan Arthur are joined by Wealth Advisors and Certified Financial Planners Todd Oetken and Grant Roberts, both of Hilliard Lyons, a Robert Baird Company, as they detail the difficulties that elders face as they get older, through the lens of Joe’s late aunt. They highlight many of the areas where having a financial planner benefited her after her husband passed away and how they became a critical component of the elder care process for her.

Todd and Grant discuss with Joe and Susan the fees attached to financial planning and the various services associated with working with seniors. They also explain what a family office is and how much money that it takes to pursue that option. Joe emphasizes emulating the family office model within the constraints of your budget and resources, and Todd and Grant explain how you set up your estate can play a factor in doing so. They emphasize the need for having a Power of Attorney, health care Power of Attorney, and living will, as well as making changes to your home ahead of time, such as changing your bathroom or getting a lift for your stairs. They state that accomplishing your “bucket list” and doing what you want to do in your life while you are healthy is something that you should do, instead of living in the same state of worry over finances that you once lived in.

Protecting Your Assets in a Litigious World [Episode 93]

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Attorney-CPA Joe Cordell and co-host Susan Arthur highlight how to protect your assets in a litigious world on this episode of ElderTalk with Joe Cordell. Joe discusses how corporations or other types of entities have methods of protection, in order to lower the risk of losing assets. He explains what joint tenancy by the entirety is and how it can affect lawsuits that can result in the loss of assets.

Joe also talks about how an insurance umbrella policy catches many of the risks that you can be liable for. He details the difference between reducing the risk and protecting against the risk, as well as explains the role that irrevocable trusts play in asset protection.

Joe also discusses how comfortable or uncomfortable the law is with uses of trusts, as well as how asset protection does not apply to those who anticipate oncoming liability issues. He also highlights the ins and outs of a self-settle trust and talks about the control and freedom that you may or may not have while utilizing asset protection.