The Application of Estate Planning During the Coronavirus Pandemic [Episode 145]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by TuckerAllen attorney Teresa Yao, to talk about the application of estate planning, as it relates to the current Coronavirus (COVID-19) pandemic.

They talk about the importance of having your estate planning documents in place, so that decisions can be made on your behalf, in case of your incapacitation (3:29).

Teresa highlights what can happen if you do not have your estate plan in place (12:24). Jill describes the challenges that seniors who do not have family members face during this difficult time (19:48).

Teresa talks about how the current state of unemployment and how that may affect your ability to hire an attorney for estate planning (26:18), as well as how to avoid probate (32:47).

She breaks down what trusts do, in protecting your assets for your loved ones and how important they are in an estate plan (34:24). Teresa also talks about the deal that TuckerAllen is offering for a complimentary durable Powers of Attorney during the pandemic (38:25), as well as a deal for listeners of ElderTalk with TuckerAllen (41:58).

Learning More About the Coronavirus [Episode 144]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by Dr. John Morley, of St. Louis University’s Division of Geriatric Medicine, to break down the Coronavirus (COVID-19) pandemic, as it relates to the most vulnerable: seniors and those with compromised immune systems.

He talks about the differences between the current pandemic and past epidemics (7:38), as well as lifestyle suggestions for seniors, as they remain vulnerable to the Coronavirus (9:24). They all discuss the impact that isolation-inspired mental health problems may have on physical health, such as a rise in heart disease or diabetes (13:26).

Dr. Morley answers the question of whether or not St. Louis University is involved in any type of cure or vaccination efforts for Coronavirus (26:00) and also expresses caution when discussing the popularized existing treatments of hydroxychloroquine. (28:56).

Dr. Morley examines the advantages and disadvantages of the United States health care system, as opposed to many socialized forms of medicine in Europe or Asia (32:45).

Be Vigilant of Scams During the Coronavirus Pandemic [Episode 143]

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Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by the Better Business Bureau’s Don O’Brien to break down all of the potential scams that seniors could be vulnerable to during the Coronavirus (COVID-19) pandemic.

Don highlights how scammers are utilizing the headlines of the news, in order to capitalize on the fear that the pandemic has inspired. He talks about how Facebook ads has become a primary medium for many of the scams (6:40), as well as the issues surrounding Missouri pastor Jim Baker, who made headlines for having guests on his show that were attempting to sell a false cure to the Coronavirus (8:26).

Don also dives into phone call scamming and how that has increased during these challenging times (13:00). He also reminds seniors of the grandparent scam (17:00), and the role that adult children play in taking care of elderly parents (21:35).

Afterward, Joe and Jill are joined by TuckerAllen attorney Teresa Yao to discuss some of the most important estate planning decisions that you can be making during this pandemic (31:00). She describes what a durable Power of Attorney is (35:25) and how important it is to be proactive in your decision-making both from a medical and financial perspective (42:50).

Understanding the Economic Impact of the Coronavirus [Episode 142]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by Peter Lazaroff, CIO, CFA, CFP of Plancorp, as they discuss the financial and economic implications of the Coronavirus pandemic. They talk about Peter’s background and what Plancorp does (4:30). Peter explains the impact that the Coronavirus has had on the United States market (5:01) and how the economy in both Italy and China have processed this pandemic in different stages (7:50).

Joe and Peter discuss what “flattening the curve” means (9:57), as well as possible “peaks” that we may see affecting the country from an economic perspective, including the possibility of a recession (13:55). Joe and Peter discuss the impact that existing debt has on the economic forecast. (20:00). Peter explains what he is telling his clients during this time of economic uncertainty (26:37) and how important looking at your financial plan is right now (29:25).

Peter talks about what he tells many of his clients who are over the age of 70 during moments of economic uncertainty in the market (32:00), as well as advanced estate planning strategies that many use to help them in the market. (35:35).

World’s Best Places to Retire in 2020 [Episode 141]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by International Living Magazine editors Suzan Haskins and Dan Prescher to talk about the magazine and its history (2:10). Suzan and Dan break down the factors that go into creating the Annual Global Retirement Index (4:46), as well as the quality of health care internationally and how that factors into the decision to retire outside of the United States (15:12).

Joe, Jill, Suzan, and Dan highlight some of the Asian and European countries featured in the index, including Vietnam (18:55), France (25:47), Spain (27:18), Portugal (27:37), Mexico (33:45), Panama and Costa Rica (36:57), Malaysia (39:18),

They also talk about concerns over language barriers (28:09), as well as Suzan and Dan’s books, “Live Richer, Spend Less: International Living’s Ultimate Guide to Retiring Overseas: The Best Places to Retire on a Budget” and “The International Living Guide to Retiring Overseas on a Budget: How to Live Well on $25,000 a Year” (40:06).

Taking Precautions Against the Coronavirus [Episode 140]

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Attorney-CPA Joe Cordell and co-host Jill Enders dive into the topic of the coronavirus. They talk about their own experiences at restaurants and grocery stores, before diving into how it can affect seniors and their families.

Joe and Jill highlight some of the necessary estate planning documents that seniors need to have in place. Joe emphasizes the need for a durable Power of Attorney (4:19), and announces that TuckerAllen will be creating free durable Powers of Attorney for those with a photo ID, who come to their Chesterfield location, between 9 a.m. to 11 a.m., Monday, March 16, 2020, at 600 Kellwood Parkway, Suite 300, Chesterfield, Mo. 63017 (5:43).

Joe and Jill begin discussing safety within assisted and community living facilities and how these types of environments may be affected by the coronavirus and its ability to spread (8:41). They offer every day tips on how to better stay safe and healthy during this coronavirus outbreak (14:12). They also talk about how technology can assist society in how we function during these challenging times (21:00).

Joe also discusses the importance of having an emergency notification device that can help alert others of any type of emergency that can arise (23:20). He also describes each of the legal devices that make up a comprehensive estate plan and how they are essential with all of the health risks that have arisen (28:17).

Don’t Cut Corners in Your Estate Planning [Episode 139]

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Attorney-CPA Joe Cordell and co-host Jill Enders talk about the importance of not cutting corners in your estate planning, on this episode of ElderTalk with TuckerAllen. They emphasize why overpaying and getting it done thoroughly and correctly is better than underpaying and utilizing a form.

They touch on each of the moving parts that you need to take care of, while you still are able to do so, such as a durable Power of Attorney, a will, and a trust. Joe dives further into what a trust does, as a central entity of your entire estate plan.

Joe explains the roles involved in the estate planning process and the importance of choosing individuals for these roles based on an accurate understanding of their character, as opposed to loyalty or affection for that person.

He also differentiates wills and trusts, highlighting the ins and outs of both and why having both is a good idea.

Then Joe and Jill are joined by roving reporter online editor Dan Pearce, as they break down estate planning issues surrounding a family and their Italian restaurant in Canton, Ohio.

Learning More About the St. Louis Activities Center [Episode 138]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by Maggie Simpson, of the St. Louis Activities Center, as they talk about what activities and services are available for seniors in the St. Louis metropolitan area.

Maggie describes the importance of socialization among seniors, and especially senior men, within the St. Louis Activities Center community. She talks about the holiday activities, dances, games, instructor-led exercise activities, day trips, road trips, transportation, and more available at the center.

Maggie also describes how present the city of St. Louis is in the lives of those at the St. Louis Activities Center, as well as how the relationships among seniors at the center give these individuals an opportunity to connect with others.

Then, Joe and Jill are joined by roving reporter online editor Dan Pearce, as they discuss the estate planning issues surrounding a civil and criminal case involving Mount Carmel, Ten. Mayor Chris Jones.

For information on the St. Louis Activities Center, contact 314-645-3577.

Understanding the Vitality of a Plan [Episode 137]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by attorney Jessica Jax, on this edition of ElderTalk with TuckerAllen. On this episode, Jessica joins Joe and Jill to discuss the recent merger of Cordell Planning Partners and TuckerAllen, as the new firm looks to assist clients with their plans for the future.

The group talks about the primary to-do items that people need to have in place when planning for the future, including an active Power of Attorney, financial planning for long-term care, and asset planning.

They talk about what goes into making the choice of an agent of a Power of Attorney, as well as the difference between a conservatorship and a guardianship. Jessica explains the functions of probate court and emphasizes why proper planning ahead of time can make probate court easier.

Jessica also talks about the financial options involved in paying for long-term care, as well as planning and applying for Medicaid. She also dives into the importance of making decisions, in regards to your assets.

Making a Financial Plan [Episode 136]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by Certified Financial Planner John Gallia, of the Gallia Wealth Management Group in Creve Coeur, Mo., to discuss the importance of financial planning as you age. John emphasizes evaluating what one aspect you feel is to be improved on in your financial plan and devoting time and effort to work on it.

John highlights the importance of seeking a Certified Financial Planner, when planning your financial future, as well as how they are paid. He describes how pension plans factor into the greater financial scope of a client’s finances, as well as how important understanding a client’s goals is for a Certified Financial Planner.

He talks about how frequently listeners should be speaking to a financial planner, as well as how living situations for retired individuals can affect their overall financial picture, especially those dealing with mortgages.

John also talks about the impact of credit card debt and how vital it is to get rid of that before you retire.