Navigating the Health Challenges of COVID-19 [Episode 176]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by Dr. Kaori Sakurai, Assistant Professor from the Division of Geriatrics and Nutritional Science at the John T. Milliken Department of Medicine at Washington University’s School of Medicine in St. Louis. They discuss health issues related to the COVID-19 pandemic and how the senior population has navigated these challenges.

Dr. Sakurai offers her thoughts on vitamin-D usage during the pandemic and highlights why nutrition and staying healthy are preventative aspects to maintaining wellness. She describes the increased problem of seniors not getting the proper nutrition they need during the pandemic, as well as the long-term psychological effects of social isolation.

The panel highlights many of the national and international responses to both the virus and a possible vaccine. Dr. Sakurai emphasizes the importance of engaging with the senior population, as they socially isolate for their own protection. She also offers her thoughts on the Great Barrington Declaration.

Dr. Sakurai breaks down the health care capacity within the St. Louis area and how it has handled COVID-19 cases. She emphasizes the importance of involving a primary care physician and listening to their recommendations if you do contract COVID-19.

Protecting Yourself From Common Estate Planning Mistakes [Episode 175]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by TuckerAllen attorney Missy Shands Manning to discuss many of the missteps that people make when estate planning. This not only includes mishandled estate planning documents, but also includes failing to create estate planning documents altogether.

Missy describes the biggest problem with only creating a will, as opposed to a comprehensive estate plan that also features a trust and Powers of Attorney for both financial and health care matters. She walks through the process of conservatorship appointment in the cases, where you do not have a Power of Attorney in place and highlights the differences between conservatorship and guardianship. The panel also breaks down many of the reasons why people do not have their estate planning documents already created.

Missy explains the functions of a pour-over will and how it is utilized for those that forget to include assets in their living trust. She also describes the risks in creating online wills through forms and talks about the importance of finding an attorney that focuses on estate planning and elder law.

Reaching Retirement Goals [Episode 174]

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Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by Peter Lazaroff, co-Chief Investment Officer for Plancorp, to discuss steps to early retirement. They dive into Peter’s book, “Making Money Simple” as well as the plight of clients who want to retire on their schedule.

Peter describes the “four percent rule” as a financial rule of thumb, while both flawed and dated. He talks about the rule stays reliant on a specific value yielded or returned by your portfolio. He offers insight on how to properly calculate your finances, so you can retire without worrying about running out of money in retirement.

Peter also highlights how the COVID-19 pandemic may affect the retirement plan, if you are looking to retire at age 55. He emphasizes the importance of understanding monthly expenses each year and how that may be affected without the same amount of annual income.

He describes what he does for his clients, if their retirement projections are off. Peter also talks about what he does for his clients at Plancorp, designing a plan unique to the individual, finding tax opportunities, and helping them achieve their goals.

Wear Your Mask with Dr. John Morley [Episode 173]

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Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by Dr. John Morley from St. Louis University’s Division of Geriatric Medicine to discuss wearing a mask, as well as other ongoing issues surrounding the COVID-19 pandemic.

Dr. Morley highlights how government response to COVID-19 may require a lockdown and how the use of masks and employment of social distancing are effective means in protecting the health of others. He also dissects the Central of Disease Control’s response to COVID, as well as mask-wearing mandates.

Joe also highlights the Great Barrington Declaration and the economic consequences of a possible lockdown, in response to COVID-19. Dr. Morley dives into the death toll of COVID-19 across political party lines.

He also highlights the various impact that COVID-19 can have across different age groups and the subsequent health conditions that it can cause. He also dives into the health status of President Trump and his bout with COVID-19.

Dr. Morley describes what can happen if you take too much Vitamin D. He talks about how COVID-19 may factor into cold and flu season, especially among seniors.

Managing Investment Plans for Retirement [Episode 172]

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Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by certified financial planner John Gallia, of Gallia Wealth Management Group to discuss ways to navigate investments and retirement amid the COVID-19 pandemic.

John describes how the current political climate, as well as the 2020 Presidential Election, may affect the economic situations of clients, who are looking to retire. He also dissects how to navigate investment strategies and explains exchange traded funds and how they make up investments.

John also describes why one of the biggest fears among clients is running out of money while retired. He highlights why filling in lacking areas of an estate plan may be a helpful for those leery of investing in the current economic climate.

The group navigates “COVID fatigue” and how it may be affecting those with retirement on the horizon, as well as retirees. John highlights options that people have when they run out of money when retired, including reverse mortgages and refinancing the family home.

Key Components to Estate Plans and Instructing Loved Ones [Episode 171]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by TuckerAllen attorney Teresa Yao, as they highlight the importance of reviewing a checklist of necessary estate planning documents when creating an estate plan. They go over how the effects of the COVID-19 pandemic have evolved over time for estate planning attorneys and how they assist their clients, who are looking to create plans for the future.

They break down many of the key facets of putting together a comprehensive estate plan. Not only do they dissect the ins and outs of Powers of Attorney, trusts, and wills, but the group describes the personal intricacies involved in leaving estate planning documents where loved ones can find them, dealing with potential family feuds, deciding trustees, agents in a Power of Attorney, and other roles in your estate plan, and more.

Joe, Jill, and Teresa touch on resources that you can use, such as Everplans (which was highlighted in a recent Wall Street Journal article), in order to offer instructions and financial information to your loved ones in the event of your death.

Understanding Timeshare Scams [Episode 170]

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Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by Don O’Brien, an investigator for the Better Business Bureau to highlight scams that can occur, involving timeshare properties.

The group highlights how the timeshare industry and societal perceptions of timeshare properties have evolved, as well as common techniques that people have used, in order to exit ownership. They dissect a Better Business Bureau study from 2016 that involved 700 complaints against Missouri timeshare relief companies that reported millions of dollars in losses.

From that study, they describe how Missouri compares to others states, in terms of complaints filed against timeshare exit scams, as well as why seniors may be so vulnerable to these types of scams. Don talks about the possibility and commonality of consumers getting their money back and whether or not falling victim to a timeshare exit scam may affect your credit.

Don also goes into detail about the scam involving a deceased family member and how their loved ones supposedly become financially responsible for the timeshare property.

Dealing With Financial Pressure Amid COVID-19 [Episode 169]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by John Smallwood, president of Smallwood Wealth Management and author of “It’s Your Wealth – Keep it: The Definitive Guide to Growing, Protecting, Enjoying, and Passing on Your Wealth,” to discuss ways of overcoming financial pressures amid the COVID-19 pandemic.

They highlight how lifetime events that occur in the financial market can cause major setbacks that can be felt in your accounts for years to come. John describes ways that people can stabilize their financial situation and restructure their plans.

John describes accurate ways to determine how much money one may need to save, in order to retire, as well as steps that one can take, in order to reduce the financial stress on them or their family.

He navigates how much of a burden taxes can be when it comes to navigating a financial landscape with retirement on the horizon, as well as steps to take if someone has lost their job due to the pandemic.

Discovering Friendship Village [Episode 167]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by Friendship Village President and CEO Terry Walsh and Friendship Village Chesterfield’s Executive Director and Chief Strategy Officer Carmen Fronczak to discuss the trend of seniors in the St. Louis area moving into assisted living and memory care facilities amid the COVID-19 pandemic.

The group discusses the grand openings of state-of-the-art assisted living and memory care campuses in Chesterfield and Sunset Hills, as well as how to pay for long-term care, in general.

They highlight how many of the design choices of the Chesterfield campus was based on input from staff and residence of a previous Friendship Village location, as well as the preparedness of their staff in handling the magnitude of new residents at both locations.

The group talks about the community atmosphere that helps seniors in combating loneliness, depression, and other mental health-related issues that may come with going through the aging process alone.

Charitable Giving in Your Estate Plan [Episode 166]

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Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by TuckerAllen attorney Teresa Yao to break down methods of utilizing estate planning for charitable giving. They highlight how a bequest in a will or trust offers informative instructions on how much money is being given and to what charity.

Joe and Teresa highlight the risks involved when the correct legal name of the charity is not used in the estate planning documents and how closely these conditions are monitored. They also talk about what may happen if someone leaves all of their money to a charity and the surviving family members contest the will or trust.

They also talk about what may happen if a charity is not identified, but rather, a request is left that the heirs donate a percentage of assets to a specific charity after death. Teresa also highlights the ins and outs of naming a charity as the beneficiary of a retirement account, as well as how pet trusts are created, in order to take care of pets after you die.