Learning More About Meals on Wheels [Episode 135]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by Libby Travers, of Meals on Wheels, to discuss the history of their organization and their ability to provide food and outreach for the St. Louis metropolitan area.

They discuss how the organization gets its food from hospitals and nursing homes, as well as the organization’s ability to check-in on the recipients, in order to make sure that they are doing well. Libby explains the difference between the regional organizations across the country and the Federal program. She talks about the subsidies and the donations that the organization relies on.

Libby highlights the ways that they assist the senior citizen community and how they thoroughly screen their serving volunteers.

Then Joe and Jill are joined by roving reporter and online editor Dan Pearce to discuss a recent estate planning case involving the University of Missouri and Hillsdale College in Michigan.

Be Discerning When Choosing a Power of Attorney Agent [Episode 134]

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Attorney-CPA Joe Cordell and co-host Jill Enders highlight why it is important to be cautious and discerning when choosing someone to represent your interests when signing a Power of Attorney document. With all of the scams and potentially negative behavior that seniors can be vulnerable to, it is necessary to entrust your health, finances, and decision-making abilities in the event of your inability to do so for yourself, in the hands of someone you know and trust.

They are joined by their celebrity reporter online editor Dan Pearce, as they discuss a pending case in Florida, in which a Power of Attorney document was misused to allegedly spend the funds of an ailing senior on the agent, themselves. They dive deeper into the situation and break down the unique role of a professional guardian and additional cases that this individual is involved in.

Joe and Jill talk about what can be learned from a situation like this and why it is vital to seek legal advice in situations like this, so that you and your assets can be protected.

Fraud Awareness Among Seniors [Episode 133]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by Don O’Brien, of the Better Business Bureau, to discuss fraud and methods of deception that seniors may become victims of. He breaks down how social media and other newer forms of communication can cause scams to spread, forcing seniors to be wary of potential fraud situations.

They talk about the misplacement of trusts in older generations and how social security scams and virus popup scams can plague seniors and their personal information. Joe and Jill stress the importance of speaking to seniors and discussing these types of potential scams with them, so that they do not fall victim to them.

Joe and Don talk about the inclinations of older generations to respond to charitable requests and how that may lead to fraud situations. Don talks about what the grandparent scam is and how robocalls are targeting seniors. They also talk about call centers and how area codes can be deceptive, when it comes to robocalls.

Planning Retirement With Deferred Gratification [Episode 132]

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Attorney-CPA Joe Cordell and co-host Jill Enders break down the fundamental elements of planning for retirement. They highlight the importance of making responsible financial choices throughout your life, in order to create the assets necessary for a comfortable retirement.

They discuss the difference between occasional saving and being frugal all of the time, as well as how the ideal of deferred gratification can benefit your retirement outlook. Joe talks about working in some capacity after retirement and how it significantly can impact factors like social security.

They talk about the balance involved in work and health as you age, and Jill talks about how your unique financial situation can dictate whether or not you continue working. Joe and Jill describe how longevity and medical developments can affect your decision to supplement your income with additional employment.

Joe emphasizes the importance of understanding your medical history and how medical advancement and a subsequent extended lifespan can affect your need for additional finances in retirement.

Understanding Electronic Wills [Episode 131]

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Attorney-CPA Joe Cordell and co-host Jill Enders discuss the innovations and intricacies involved in electronic wills. They currently exist in the state of Florida, and given the prevalence of esignatures, this digital innovation adds convenience to the state planning process. Joe highlights how maintaining locatable documents is an essential part of the process, after a will is drafted, as well as talks about the legislative efforts involved in instituting and regulating electronic wills.

Joe breaks down the formalities of execution for wills and how it can seem unnecessarily ceremonial. He highlights how attestation will play a factor in the execution of the will and how formalities will not necessarily go away. Joe and Jill also talk about the possibility of hackers attacking these electronic wills and how necessary protection of servers is going to be with these documents.

Joe emphasizes how a will should be a component, but not the center of a comprehensive estate plan, as well as how beneficial trusts can be in an estate plan.

Then, Joe and Jill are joined by roving celebrity reporter and online editor Dan Pearce, as they discuss lead singer of The Cars, the late Ric Ocasek and the issues surrounding his estate plan.

Receiving Skilled Care at Home [Episode 130]

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Attorney-CPA Joe Cordell and co-host Jill Enders are joined by Ann Layden and Laura Adams of Premiere Home Health in St. Charles, Mo., to discuss the at-home alternative of entering in skilled care facility for treatment, their backgrounds, and their recent Home Care Elite recognition as a home health agency.

They dive into the services offered by Premiere Home Health, the boutique experience, and the transportation options available to clients. Ann and Laura talk about how their care is covered 100 percent through Medicare, and highlight how qualifying for their particular care is entirely dependent on the unique needs of the patient.

They highlight the differences between skilled and unskilled services available through Premiere Home Health and talk about the concerns surrounding liability where recommendations of third party care outlets, or even returning home, are concerned. Ann and Laura strongly encourage seniors and those facing health issues to do their research, before making decisions that can affect your future.

The Changes in Saving for Retirement [Episode 129]

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Attorney-CPA Joe Cordell and co-host Jill Enders discuss many of the changes that have occurred in the economy and how it affects the methodology of saving money and planning for retirement. They dive into the various forms of benefits that an IRA and a 401K include and the differences between the two.

Joe also talks about the impact of the tax law that President Trump signed in 2018, and how it may impact an IRA or a Roth IRA. They also discuss the possibility of traveling and how being active in your retirement years can affect your funds.

By staying active, you can explore more of the world, but Joe and Jill both highlight the drawbacks of acquiring a part time job in your retirement years that may impede some of your activities or travels.

Joe and Jill also discuss the individuals who go into retirement with mortgages and how that can affect their retirement funds.

Then, Joe and Jill are joined by roving reporter and online editor Dan Pearce, who breaks down the investigation and estate plan issues surrounding Nathan Carman and his family.

Appreciating the Functions of a Trust [Episode 128]

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Attorney-CPA Joe Cordell and co-host Jill Enders navigate the ins and outs of trusts. They talk about the different perspectives that exist among clients who feel that a more detailed estate plan would be “controlling from the grave” versus clients who feel that it simply would be a parent looking out for their children.

Joe explains the differences between a revocable and an irrevocable trust, and he talks about the intricacies involved in the asset protection strategies involved in an irrevocable trust. He also talks about utilizing an irrevocable trust, in order to qualify for Medicaid.

Joe highlights the benefits of having a revocable trust, as well as the challenges associated with the probate process, including the schedule and the costs associated with the experience.

Joe and Jill discuss the possibility of challenging a will, as well as accusing a beneficiary of undue influence. They break down the responsibilities of a trustee and an executor. Joe also talks about how businesses are preserved by an executor, after the owner of a business dies.

Contemplating Aging in Place [Episode 127]

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Attorney-CPA Joe Cordell and co-host Jill Enders focus their discussion on the on-going debate of aging in place vs. moving to a facility or community that offers amenities and care options. They highlight an article from the Wall Street Journal that details the financial investment that has been made in creating these facilities and communities

The post Contemplating Aging in Place [Episode 126] appeared first on Cordell Planning Partners.

Navigating Family Dynamics in Estate Planning [Episode 126]

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Attorney-CPA Joe Cordell and co-host Jill Enders discuss the legal ramifications of having estate planning documents in place. Joe describes the role of the attorney and how they go about creating a comprehensive estate plan that reflects the wishes of the client.

They talk about clients who may have a controlling kid who wishes to manage the situation. Joe and Jill highlight how there are situations where the controlling kid’s intentions are pure and situations when they are not. Joe dives into the burden of proof in proving undue influence and also describes a case involving a $3 million estate involving children disputing decisions involving estate planning documents. Legal actions and appeals still are occurring in the case.

Then Joe and Jill are joined by online editor and roving reporter Dan Pearce to discuss a case occurring in Florida, where an administrative assistant of a skilled nursing facility in Florida was arrested for misusing the funds of a patient, of whom she was their agent with a Power of Attorney in place.