Exploring the Financial Landscape Amid COVID-19 [Episode 155]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by Certified Financial Planner John Wehmer, of Cornerstone Wealth Management, as they discuss some of the financial repercussions of the COVID-19 pandemic.

They talk about the stress that financial uncertainty can cause during this pandemic, as well as how possible unemployment may affect a client’s financial situation.

John talks about needs vs. wants, when it comes to a client’s retirement, as well as what he expects from the financial landscape in the rest of 2020 and 2021.

He talks about the cruise, flight, and entertainment industries and how long it may take for them to bounce back.

John describes how the questions he asks his clients helps shape his economic outlook, as well as how many of his clients are turning toward home renovation during the pandemic.

John speculates how the 2020 Presidential Election may affect the financial landscape amid the COVID-19 pandemic.

Looking Into Medicaid Planning [Episode 154]

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Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by TuckerAllen attorney Teresa Yao to highlight the importance of financial planning for long-term care through Medicaid, on this episode of ElderTalk with TuckerAllen.

They describe the qualification process of qualifying for Medicaid and emphasize the ability that you have, in protecting your life’s work for your loved ones while still being able to afford long-term care and provide funds for a healthy spouse.

Teresa dives into the laws surrounding Medicaid and how they affect an estate after someone dies, as well as the look-back period and the possible penalties associated with it.

Teresa breaks down what an irrevocable trust is and what it is used for. She and Joe details the rules and regulations associated with an irrevocable trust, as it relates to maintaining Medicaid eligibility and allowing you to live in the house, even if you choose to place it in the irrevocable trust.

Joe explains what annuities are and the criteria to have one. He also talks about how Medicaid is calculated in Missouri and what the income level qualifications are in the state.

Exploring Patient Care Amid COVID-19 [Episode 153]

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Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by Ann Warren, Chief Nursing Officer of Encompass Health, and Mark Dwyer, CEO of the Rehabilitation Institute of St. Louis, to discuss the challenges that COVID-19 has created for their patient care.

They highlight many of the various health elements that still are present amid the pandemic, as well as the learning curve that has developed, in terms of how to care for patients with COVID-19.

Ann and Mark highlight the facilities and services that each of their institutions offer, and they talk about the population vulnerability of their respective facilities.

They talk about COVID-19 testing and the availability of tests. Ann and Mark both talk about how their facilities had to convert to all-private rooms for a time, before reverting back to semi-private once the number of COVID-19 cases went down.

Mark describes the relationship between his facility and the experienced medical professionals at Washington University. He and Ann both talk about how we, as a country, have not gone through the first wave of COVID-19 and share their thoughts about a second wave of the virus.

Having Confidence in Your Estate Plan [Episode 152]

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Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by TuckerAllen attorney Teresa Yao to discuss estate planning and elder law mechanisms that you need to have in place, in order to maintain confidence with your future plans.

Teresa emphasizes the importance of having a plan in place and how the COVID-19 pandemic has acted as a reminder of it. She describes how personal the estate planning process can get and how dedicated estate planning and elder law attorneys are at connecting those personal stories with the outlined goals of the desired estate plan.

She emphasizes the importance of having the tough conversations regarding estate plans and who gets appointed to do what function. Teresa cautions against giving the same levels of responsibilities to the same people and how that may be counterproductive to decision-making within an estate plan.

Joe and Teresa explain what an institutional trustee is and how it can function in estate planning. Teresa also explains the ins and outs of probate and how it authenticates a will and allows assets to pass.

The Next Steps Amid COVID-19 [Episode 151]

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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 the next steps that people need to take, as the St. Louis area begins to reopen amid COVID-19.

Dr. Morley emphasizes the importance of wearing a mask and protecting those vulnerable and elderly from public exposure. He also highlights recent CDC results regarding a viral and antibody test of COVID-19.

Dr. Morley also shares his thoughts on the effects that the recent protests, in the wake of Minnesota resident George Floyd’s alleged murder, may have on the COVID-19 pandemic. He emphasizes how St. Louis County may require additional testing, especially within nursing homes.

He advises seniors against visiting the area casinos that are reopening, as well as the benefits of wearing gloves. Dr. Morley also talks about the effects that COVID-19 has on muscle health, the brain, and the lungs.

Navigating the Investment Market Amid COVID-19 [Episode 150]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by financial advisor John Gallia of Gallia Wealth Management to discuss the impact of the pandemic on financial planning.

They highlight the economic highs and lows of the COVID-19 pandemic and how they have affected financial planning. They talk about different industries and how they have been impacted, as well as whether or not we should anticipate another economic downturn, as the result of another spike of COVID-19.

John breaks down the economic impact of the pandemic on the value of the dollar, as well as how the stimulus package has functioned in helping the economy.

He breaks down how interest rates have been affected and whether or not investments in assets with high inflation rates are smart moves right now.

John helps explain the current state of the bond market, as well as the housing market and the benefits of selling in today’s real estate market.

Exploring Home Health Services During COVID-19 [Episode 149]

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Attorney-CPA Joe Cordell and co-host Jill Enders discuss different types of responses to the Coronavirus (COVID-19) pandemic across the United States. They also talk about Sweden’s health response, in juxtaposition to this country.

Afterward, they are joined by Premier Home Health CEO Ann Laiden, as they discuss Premier Home Health’s services and how they assist seniors.

Ann talks about her and her company’s response to the COVID-19 pandemic, as well as how Medicare has taken it upon themselves to emphasize the role of a nurse in senior health services.

She describes the skilled needs that patients require, in order to qualify for Medicare’s coverage, as well as how Medicare has responded to the pandemic, in relaxing requirements for homebound coverage.

Ann describes the boutique experience of Premier Home Health and how they personalize a health plan for each patient. She also talks about the mental health services that they provide via video conferencing and telephone.

Balance of Life and Estate Planning During COVID-19 [Episode 148]

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Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by TuckerAllen attorney Teresa Yao, to discuss so many of the health risks associated with those vulnerable to the Coronavirus (COVID-19).

They talk how physical conditions and temperaments play a factor in contagion levels around the United States, as well as around the world. Joe, Jill, and Teresa highlight issues around the state and country, where companies are opening up their workplace.

The group discusses the impact that COVID-19 has had on Americans around the country, including unemployment, closure of companies, and possible mutations of the disease.

They describe how estate planning and long-term care planning instill balance to your life. Teresa dives into her process of building an estate plan, from both an asset and philosophical perspective. She highlights the importance of planning for the possibility that you may become incompetent.

Joe and Teresa dive into the process of constructing a durable Power of Attorney, including choosing an agent, choosing successor agents, and forming end-of-life decisions.

Navigating the COVID-19 Financial Market [Episode 147]

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Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by Wealth Advisors and Certified Financial Planners Todd Oetken of R.W. Baird, to break down how the Coronavirus (COVID-19) pandemic has affected the practice of financial planning.

Todd talks about his interactions with clients and how the shelter-in-place orders have affected his clients (2:30), as well as how the market has impacted clients (3:55). He describes his feelings toward the pandemic and the emotional and social impact of it, from his client’s perspective (6:26) and navigates the complicated situation for those living paycheck-to-paycheck during the economic downturn of the pandemic (13:25).

He also explains the difference between an IRA and a Roth IRA (20:43), as well as long-term investments that are worth considering in a post-Coronavirus pandemic world (24:47). Todd breaks down what an ETF is (26:24) and why increasing one’s contribution to their 401K plan, if you have a stable job and have continued working throughout the pandemic, is a good idea (31:09).

Navigating Financial Planning During COVID-19 [Episode 146]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by wealth manager Louis Wray, of Vine Wealth Management, to discuss the impact of the Coronavirus (COVID-19) pandemic on financial planning.

They talk about the current financial planning mindset amid the pandemic (4:53), as well as the consequences of dipping into your retirement early when you have financial concerns during this uncertain time (8:38).

Louis describes the type of impact that the current COVID-19 financial landscape will have on those looking to retire (16:18), as well as how the Cares Act affects seniors and those looking to retire (26:31).

He highlights why United States taxes likely will increase in the future (27:20) and describes the process of how you will be receiving the money that you will be getting through the Cares Act (30:33). Louis also talks about how filing your 2019 tax return may affect this process (31:41).