Exploring Revocable Trusts – Episode 2 Part 2: Beneficiaries – EP. 72 – Life’s Third Act

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Welcome back to part two of exploring beneficiaries within revocable trusts with Attorney-CPA, Joe Cordell, and TuckerAllen estate planning attorney, Benjamin Zinkel. In this continuation, the pair delve deeper into the complexities of estate planning, further focusing on beneficiaries within the realm of revocable trusts.

Join them as they explore advanced strategies and practical considerations for effectively managing beneficiaries in revocable trusts. Gain invaluable insights on handling disputes that may arise among beneficiaries, navigating the challenges of distributing wealth to multiple children, and ensuring the long-term financial stability of your loved ones. In this episode you will discover the intricacies of perpetual trusts, cascade provisions, and the potential advantages of passing the trust down the family line.

If you have any questions about estate planning or elder law, get in touch with an attorney at TuckerAllen.

Exploring the Elements of a Revocable Trust – Part 2A: Beneficiaries – EP. 71 – Life’s Third Act

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Join Attorney-CPA Joe Cordell and TuckerAllen estate planning attorney, Benjamin Zinkel, in part two of exploring revocable trusts. In this enlightening discussion, Mr. Cordell and Mr. Zinkel explore the intricate world of beneficiaries and the crucial aspects surrounding their role in estate planning. Discover the step-by-step process of how a trustee and beneficiary take over, gain insights into the transfer of authority and understand what actions you can take if a trustee misbehaves or fails to honor your wishes, explore the various ways to leave money for your beneficiaries and learn about effective strategies for distributing wealth among multiple children, and more.

The episode delves into the complexities of supplemental needs trusts, providing invaluable information on how to ensure financial security for children with special needs while preserving their eligibility for government benefits. Mr. Cordell and Mr. Zinkel also address disputes between beneficiaries regarding the distribution of funds, offering practical guidance on resolving conflicts and finding equitable solutions. Furthermore, they explore the fascinating concept of cascade provisions, also known as perpetuity, and its implications for passing the trust down the family line. Gain a deeper understanding of multi-generational wealth management and the potential long-term benefits it can provide.

Exploring the Elements of a Revocable Trust – Part 1 – EP. 70 – Life’s Third Act

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Join Attorney-CPA Joe Cordell as he delves into the world of estate planning and explores the benefits of a revocable trust. In this episode, “The Elements of a Revocable Trust,” Mr. Cordell will discuss the importance of a trust as a receptacle for all your assets and how it can help you plan for your future.

Mr. Cordell will explain the various moving parts of a revocable trust, from selecting a settlor to choosing a trustee with the right characteristics and reporting requirements. He also discusses the role of a trust protector and the process of selecting a successor trustee. Throughout the episode, Mr. Cordell stresses the importance of a strong relationship with your estate planning lawyer and the benefits of a revocable trust in planning for life’s third act.

If you have any questions about estate planning or elder law, get in touch with an attorney at TuckerAllen.

Planning for the Future: Top 10 Reasons Why Estate Planning Matters – EP. 69 – Life’s Third Act

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Welcome to another episode of Life’s Third Act with Attorney-CPA Joe Cordell. In this episode, Mr. Cordell will be discussing a topic that everyone should pay attention to: the top 10 reasons why estate planning matters.

Estate planning is essential for everyone, regardless of their age or wealth. In this episode, Mr. Cordell breaks down the top 10 reasons why estate planning is crucial for protecting your assets and securing your legacy. From avoiding probate and minimizing taxes to providing for your loved ones and ensuring your healthcare wishes are respected, estate planning can help you achieve your goals and leave a lasting impact on the world. Mr. Cordell is sharing his expertise and insights on why estate planning should be a top priority for everyone.

If you have any questions about estate planning or elder law, get in touch with an attorney at TuckerAllen.

Click: https://tuckerallen.com/

Call: 314-335-1100

Making Your House a Home for Life – Part 3 – EP. 68 – Life’s Third Act

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Join us for the final piece of our three-part series in which Attorney-CPA Joe Cordell is discussing staying in the home that you are in for life. In part two, Mr. Cordell focused on the feasibility of your home and finances. In this episode, he’s tying it all together by discussing what will be the underlying legal framework to fund everything that has been touched on in this series.

Having the correct legal documents in place to stay in your home is one of the most important factors in reaching your goal. Putting your wishes put into legal documentation allows you to stay in control, no matter the outside influences. Mr. Cordell gives an overview of the importance of having a Durable Power of Attorney. He also touches on the in’s and out’s of a revocable trust.

If you have any questions about estate planning or elder law, get in touch with an attorney at TuckerAllen.

Making Your House a Home for Life – Part 2 – EP. 67 – Life’s Third Act

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Attorney-CPA Joe Cordell is back this week bringing you part two of our three-part series focusing on staying in the home that you are in for life! Last week, Mr. Cordell gave an overview of how your long-term healthcare may look if you want to stay in your home, this week he is covering if your particular home is suitable for carrying you through until the end.

If you want to maximize the odds of staying in your home, it is important to think about the feasibility of the house itself. Proximity to regular destinations, the layout of the home, and accessibility to delivery and transportation services make all the difference. Mr. Cordell discusses and breaks down all of the different areas of financial feasibility, as well. What will your budget look like? Will you need to allocate extra funds for care? Are you prepared for the cost of living increases? Staying in your home for life may sound daunting, so we want to help you thoroughly prepare for this goal.

If you have any questions about estate planning or elder law, get in touch with an attorney at TuckerAllen.

Making Your House a Home for Life – Part 1 – EP. 66 – Life’s Third Act

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Attorney-CPA Joe Cordell is bringing you a three-part series in which he focuses on staying in the home that you are in for life. Retirement facilities aren’t for everyone, which is why Mr. Cordell is examining what exactly it takes to reach the goal of forever staying in the place you call home.

In this series, Mr. Cordell will be discussing how to clarify what your goal is when it comes to staying in your home. Part 1 covers everything you need to know about the concern of developing potential health issues and how to cover all of your bases if you would like to remain in your home instead of a facility. He helps to define the difference between medical and custodial care, determine what kind of care you may potentially need, and the different care options you may encounter if you want to stay in your home.

If you have any questions about estate planning or elder law, get in touch with an attorney at TuckerAllen.

Major Mistakes That You May Be Making During Estate Planning – EP. 65 – Life’s Third Act

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On today’s episode of Life’s Third Act, Attorney-CPA Joe Cordell is doing a deep dive on a recent article published in the Wall Street Journal titled, “The Biggest Mistakes People Make With Their Wills” written by Cheryl Winokur Munk.

Mr. Cordell talks through the article breaking down and further detailing how these mistakes can affect your estate plan. He touches on topics such as forgetting digital assets, how mismatching beneficiaries can affect your planning, the importance of regularly updating your will, and more. With 60% of Americans not having an estate plan, according to the article’s author, Mr. Cordell discusses how crucial it is to get a proper will and trust in place to protect your assets and the future of your loved ones.

You can read the Wall Street Journal article here – https://www.wsj.com/articles/biggest-mistakes-wills-2d13dc44

If you have any questions about estate planning or elder law, get in touch with an attorney at TuckerAllen.

Lisa Marie Presley: The Importance of Will Validity – EP. 64 – Life’s Third Act

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Join us on this episode of Life’s Third Act as TuckerAllen estate planning attorney Nina Windsor and Attorney-CPA Joe Cordell discuss the passing of Lisa Marie Presley and the concern over the validity of her will.

Lisa Marie Presley, daughter of Elvis Presley and Priscilla Presley, passed away on January 12, 2023. After Lisa Marie inherited her father’s estate in 1993, she drafted a trust naming Priscilla Presley and Barry Siegal as trustees. However, a previously unknown 2016 amendment surfaced after Lisa’s passing, removing Priscilla and Barry and naming Lisa Marie’s two children as trustees. Ms. Windsor and Mr. Cordell discuss the ongoing contest by Priscilla Presley of the 2016 amendment. Together they cover topics such as drafting your will and trust, amendments to your trust, the importance of will validity, and more.

If you have any questions about estate planning or elder law, get in touch with an attorney at TuckerAllen.

Trusts: An Essential Piece of Your Estate Plan – EP. 63 – Life’s Third Act

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Join us this week on Life’s Third Act as Attorney-CPA, Joe Cordell, gives us a full breakdown of one of the most essential pieces of your estate plan, trusts. A trust allows you to be very specific about how, when, and to whom your assets are distributed.

You may be asking, “Do I need a trust?” Mr. Cordell is here to answer that question and more. He touches on areas such as, what exactly a trust is, how it ebbs and flows down your family tree, and the differences between revocable and irrevocable trusts. The most crucial part of a trust is that you get to reach beyond your life to do important things for people you care about that they may not be able to do for themselves.

If you have any questions about estate planning or elder law, get in touch with an attorney at TuckerAllen.

Click: https://tuckerallen.com/

Call: 314-335-1100