Avoid Common Missteps in Your Estate Plans [Episode 108]

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Attorney-CPA Joe Cordell and co-host Susan Arthur dive into some of the more common mistakes that people make when estate planning. They talk about the hazards surrounding losing track of where your will is or not updating it.

Joe and Susan also talk about the complications surrounding pets and providing for them in your estate plan. They bring up pet custody and the modern commonality of including your pet in your estate plans through the uniform trust code.

They highlight some of the issues surrounding property, as well as creative property, and make recommendations, including putting property within a revocable living trust. Joe talks about the use of a deed of gift within a trust and how beneficial this mechanism can be.

Joe talks about the benefits of a trust owning an asset, in order to offer the asset and your loved ones protection from financial hardship or other risks.

Joe and Susan explain how interpersonal dynamics can play a factor in various parts of the estate planning experience, as well as how you should avoid surprising your spouse with the details of your will.

The Hazards of Forms in Estate Planning [Episode 107]

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Attorney-CPA Joe Cordell and co-host Susan Arthur caution the hazards surrounding forms on this episode of ElderTalk with Joe Cordell. They discuss the importance of planning for your future, and not just after you die, as well as the consequences of choosing a more inexpensive and convenient method of estate planning, as opposed to meeting with an elder law attorney.

Joe navigates the ins and outs of a testamentary trust, a beneficiary deed, and a payable on death provision. Susan tells a cautionary story of someone who utilized a form for his estate planning, forgot purchased stocks, and it ended up costing his loved ones after his death.

Joe emphasizes making your trust a beneficiary, in order to move assets into the trusts. He describes what you, as the client, are entitled in your estate planning documents and how they meet your unique priorities. Joe also highlights the importance of having a springing Power of Attorney.

Understanding Parkinson’s Disease [Episode 106]

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Attorney-CPA Joe Cordell and co-host Susan Arthur are joined by Debbie Guyer, the director of the Greater St. Louis chapter of the American Parkinson’s Disease Association to discuss Parkinson’s disease and its impact on the senior community. Debbie talks about Washington University’s leading research in the field of Parkinson’s disease, as well as the causation of the disease.

Debbie highlights the predictive profile of symptoms that can develop into Parkinson’s disease and discusses the activities and exercises that are beneficial in fighting Parkinson’s disease symptoms. She also talks about the impact of support groups that exist for Parkinson’s disease.

Debbie discusses the resources available to those with Parkinson’s disease, including the blog of Dr. Rebecca Glibert. She talks about the social and day-to-day challenges that those with Parkinson’s disease face, as well as the celebrity cases, such as Michael J. Fox and Alan Alda, that have brought Parkinson’s disease and Parkinson’s disease treatment to the forefront.

Preventing Family Feuds [Episode 105]

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Attorney-CPA Joe Cordell and co-host Susan Arthur highlight family feuds that can occur in the estate planning experience. They break down estate planning techniques that you can use, in order to any fighting among loved ones over an estate.

Joe and Susan break down how an estate plan that has not been updated can cause problems, as well as how expectations can cause family members to clash with one another and with the attorney caught in the middle.

Joe discusses the role that inclusion plays in the client’s motivations and how that can unintended consequences. He explains what a presumption of undue influence is and how it can shift a case, where a will is challenged.

Joe and Susan detail the responsibilities that the clients have in avoiding conflict among family members and loved ones. Joe talks about what goes into choosing who to put in charge with your decisions, if you are incapacitated, or with your estate, when you die.

The Power in a Power of Attorney [Episode 104]

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Attorney-CPA Joe Cordell and co-host Susan Arthur break down the abilities that a Power of Attorney document gives the designated attorney-in-fact. Joe simplifies what a Power of Attorney is and talks about the historical context of empowering a designated individual to make a decision on your behalf.

Joe describes the different types of Powers of Attorney and their different functions. He discourages Powers of Attorney forms that exist, due to their inability to offer the specific and necessary coverage. Joe offers scenarios where having a Power of Attorney is a necessary component to making health care or financial decisions.

Joe emphasizes how naming someone as a beneficiary in a will or trust will not empower them to make decisions for you before you have died. He also highlights the emergency procedure involved in decision-making if you are incapacitated without a Power of Attorney and how it can end up costing you quite a bit.

Learning the Principles of Elder Investing [Episode 103]

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Attorney-CPA Joe Cordell and co-host Susan Arthur go through the intricacies of investing in your senior years. They go over general principles of investing that will affect how you invest and how investing will benefit you.

Joe talks about the necessity of giving responsibility to others, as well as the benefits of reading informational literature about investing, so that you can stay informed on the methodology of investing. He highlights how important it is for those who wish to do their own investing, to be diligent regarding it and anything that may affect its well-being.

Joe details the impact that death and aging have on your investment portfolio, how you go about the investment process, and what your investment goals may be. He talks about how your retirement date can factor into investing and how safety needs to be emphasized when it comes to investment methodology. Joe highlights how liquidity and flexibility are important components to a safe and reliable investment strategy.

Visiting Villages of St. Peters Memory Care [Episode 102]

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Co-host Susan Arthur begins her journey highlighting nursing homes and long-term care facilities within the St. Louis metropolitan area with the Villages of St. Peters Memory Care in this audio walking tour. She joins Villages of St. Peters Memory Care administrator April Haskins. April takes Susan through the facility and talks about how some of the features of the facility, such as a pool table or various games, can be utilized to stimulate community members who suffer from dementia.

April describes the neighborhood concept of Villages of St. Peters Memory Care to Susan and how it provides the comforts of home. She talks about the role of the staff members in getting community members to participate in the many activities that the facility offers. April also talks about how each member provides all of their own belongings to their room.

April talks about her role as a representative responsible for educating families on the journey that their senior family member is experiencing. She also talks about the different stations that are available in each community.

Looking Into Long-Term Care Facilities [Episode 101]

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Attorney-CPA Joe Cordell and co-host Susan Arthur make an announcement regarding the show, detailing how ElderTalk with Joe Cordell is going to highlight living arrangements as you age more often on the show.

On this episode, Joe and Susan are joined by Cordell Planning Partners Business Manager Keri Stoner to discuss the variety of communal living arrangements available in the St. Louis metropolitan area.

They talk about the upcoming audio tours that Susan and Keri will be conducting, in order to portray them and their services for the listening audience. Joe details how they will have complete editorial freedom and will be able to offer criticism, in order to fully provide as much information as possible regarding the given facility.

Susan tells a personal story about her in-laws and their journey to moving into a facility, in order to maintain the balance of comfort and social interaction that they needed. They discuss going into the facility while you still have the ability to choose, as well as ways to pay for long-term care.

The Importance of Naming a Beneficiary [Episode 100]

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Attorney-CPA Joe Cordell and co-host Susan Arthur discuss some of the speed bumps that can occur when you designate someone as a beneficiary in a will. Susan tells the story of a couple and the controversy surrounding the late wife’s pension fund and which family member or members she named as the beneficiary or beneficiaries to her pension fund.

Joe explains a variety of legal terms and clauses that factor into who is determined to be the beneficiary of a will. He also breaks down the pros and cons of having your assets go through your estate, rather than directly to the named beneficiaries. Joe follows up by talking about problems that can occur within the language of naming a beneficiary.

Joe also talks about how being a beneficiary can affect your qualifications for Medicaid, as well as how an irrevocable trust can help balance your surviving beneficiary’s need to qualify for Medicaid for future long-term care, with your need to plan your estate and name your beneficiary.

Is Medicaid Right for You? [Episode 99]

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Attorney-CPA Joe Cordell and co-host Susan Arthur continue their ongoing discussion on Medicaid and long-term care. They describe the social and homely environment that many long-term care facilities and nursing homes attempt to cultivate, as well as the factors that allow you to qualify for Medicaid.

Joe highlights the evolution in financial strategies on how people spend and save their money as they age. He talks about the events and occurrences, such as trips or large purchases, that someone may want, which may make Medicaid planning a poor fit for them.

Joe talks about the usefulness of an irrevocable trust and how making financial sacrifices through frugal living can come at the cost of experiences in your senior years. Joe and Susan also answer a listener question regarding protecting a savings account, in case the listener incurs health expenses.

They also answer a listener question regarding whether or not there is a downside in bringing a loved one home from a nursing facility, as it pertains to Medicaid and finances, as well as a question asking what to do if you have too much money for Medicaid, but not enough money for nursing home costs.