Making Balanced Financial and Estate Planning Decisions Part 2 [Episode 95]

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Attorney-CPA Joe Cordell and co-host Susan Arthur are rejoined by last week’s guests, Wealth Advisors and Certified Financial Planners Todd Oetken and Grant Roberts, both of Hilliard Lyons, a Robert Baird Company. They talk about their background in Certified Financial Planning and how the qualifications of your Certified Financial Planner can help shape the way you plan for the future.

They highlight the reasons why you need to weather small losses when investing, as well as listening to your Certified Financial Planner’s advice regarding what you do with your money. Todd talks about many of the questions that Certified Financial Planners ask their clients regarding their goals, what they wish to do with their money, and how they wish to protect their assets moving forward.

Joe also asks Todd about the type of employees at Hilliard Lyons and how their certifications and financial experience can benefit the plans for the future for a client.

Making Balanced Financial and Estate Planning Decisions Part 1 [Episode 94]

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Attorney-CPA Joe Cordell and co-host Susan Arthur are joined by Wealth Advisors and Certified Financial Planners Todd Oetken and Grant Roberts, both of Hilliard Lyons, a Robert Baird Company, as they detail the difficulties that elders face as they get older, through the lens of Joe’s late aunt. They highlight many of the areas where having a financial planner benefited her after her husband passed away and how they became a critical component of the elder care process for her.

Todd and Grant discuss with Joe and Susan the fees attached to financial planning and the various services associated with working with seniors. They also explain what a family office is and how much money that it takes to pursue that option. Joe emphasizes emulating the family office model within the constraints of your budget and resources, and Todd and Grant explain how you set up your estate can play a factor in doing so. They emphasize the need for having a Power of Attorney, health care Power of Attorney, and living will, as well as making changes to your home ahead of time, such as changing your bathroom or getting a lift for your stairs. They state that accomplishing your “bucket list” and doing what you want to do in your life while you are healthy is something that you should do, instead of living in the same state of worry over finances that you once lived in.

Protecting Your Assets in a Litigious World [Episode 93]

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Attorney-CPA Joe Cordell and co-host Susan Arthur highlight how to protect your assets in a litigious world on this episode of ElderTalk with Joe Cordell. Joe discusses how corporations or other types of entities have methods of protection, in order to lower the risk of losing assets. He explains what joint tenancy by the entirety is and how it can affect lawsuits that can result in the loss of assets.

Joe also talks about how an insurance umbrella policy catches many of the risks that you can be liable for. He details the difference between reducing the risk and protecting against the risk, as well as explains the role that irrevocable trusts play in asset protection.

Joe also discusses how comfortable or uncomfortable the law is with uses of trusts, as well as how asset protection does not apply to those who anticipate oncoming liability issues. He also highlights the ins and outs of a self-settle trust and talks about the control and freedom that you may or may not have while utilizing asset protection.

Learning More About Kidneys and Kidney Disease [Episode 92]

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Attorney-CPA Joe Cordell and co-host Susan Arthur dive into the devastating impact that kidney disease has with Dr. John Arthur, Director of Nephrology of the University of Arkansas for Medical Sciences and Susan’s brother-in-law. They discuss the shocking statistics surround kidney disease and break down what dialysis is and the types of dialysis there are.

Dr. John Arthur also talks about what kidney tests identify, as well as the risk factors that increase the likelihood of contracting kidney disease. He highlights the type of proteins that also increase the risks surrounding chronic kidney disease.

He talks about the role that the gut microbiome plays in the development of chronic kidney disease, as well as the need of finding a treatment for chronic kidney disease. Dr. John Arthur also touches on transplants and discusses the functionality of the kidney and how it affects your overall health and wellness.

Building Your Team for Planning Your Future [Episode 91]

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Attorney-CPA Joe Cordell and co-host Susan Arthur break down the role of an elder law attorney, on this week’s episode of ElderTalk with Joe Cordell. They highlight the uncertainty that the future includes and how having a plan in place, created by an experienced elder law attorney can help put your mind at ease. They talk about how proper planning can help protect your life’s work and how building your team of experienced professionals in respective planning fields can be beneficial in deciding your future.

Joe discusses how a financial advisor, a medical care manager, a geriatric care manager, an individual that you would give durable Power of Attorney to, a spiritual advisor of some sort, and an elder law attorney can make for a complete team that assists you in making decisions regarding your future.

Joe also explains the vague boundary that exists between an elder law attorney and an estate planning attorney, as well as the need for having an elder law attorney who is opinionated.

Learning More About Conservatorship and Guardianship [Episode 90]

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Attorney-CPA Joe Cordell and co-host Susan Arthur discuss the tools that are available if or when you have dementia or some type of cognitive issue as you get older and you require specific care. They highlight this issue through the lens of the case of Kise and Larry Davis, as featured in the AARP magazine. They discuss how Larry had been taking care of his stepmother, Kise, from a distance until she changed her Power of Attorney to give power to a trusted friend, a handyman, in the area.

They discuss how a guardianship would have impacted the situation and how a guardianship can affect the level of care that the elder in need requires. Joe uses this opportunity to highlight the difference between a conservatorship and a guardianship, as well as talks about how a Guardian Ad Litem can impact this type of situation for all involved.

Highlighting Celebrity Estate Planning Issues Part 2 [Episode 89]

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Attorney-CPA Joe Cordell and co-host Susan Arthur continue their discussion on estate planning issues that arise for celebrities. They discuss musician Ray Charles and the issues surrounding the trusts that he established for his children, as well as the amount that he left for his charitable foundation. Due to a lack of clarity and updates regarding the amounts being given to each child, litigation occurred.

Joe and Susan also discuss musician and aspiring politician Sonny Bono and his lack of will during the time of his death. They highlight how her former wife, Cher, sued the estate for unpaid alimony and was able to collect, despite her own success.

They talk about R&B singer Barry White and the lack of updates of his will. This, paired with the fact that his divorce to his second wife was not made legal, caused problems among the family members involved.

Joe and Susan also break down the issues surrounding Michael Jackson’s last wishes and the issues surrounding having a pour-over will and not putting the assets in a trust, as well as the estate of former Miami Dolphins owner Joe Robbie and the problems he had with his will, revocable trust, and his spouse’s forced share. They wrap up the show by discussing how much money Leona Helmsley gave her dog after she died.

Highlighting Celebrity Estate Planning Issues Part 1 [Episode 88]

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Attorney-CPA Joe Cordell and co-host Susan Arthur dive into estate planning through the lens of celebrities and use them to highlight the ways that you can put a plan in place, in order to take care of those that you care about.

They discuss the story surrounding Buzz Aldrin and his desire to get married again, despite his children’s concerns regarding competence and the legal implements regarding guardianship that are in place. They talk about the possibility of a prenuptial agreement providing safeguards that could quell the concerns of the children.

Joe and Susan discuss the detailed will and trust of Frank Sinatra and the company that his daughter was running, but was left to his wife, Barbara. They also discuss former Chief Justice of the Supreme Court Warren Burger and his 176-word will. The division of assets was not evenly split, causing discord among family members.

They also talk about the will of Lauren Bacall and the taxes due on her estate. Joe discusses issues involving liquidity in estate planning. Joe and Susan wrap things up by talking about Lisa Marie Presley and her issues surrounding her father’s estate and the issues surrounding her own finances.

Learning More From Your Pharmacist [Episode 87]

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Attorney-CPA Joe Cordell and co-host Susan Arthur are joined by pharmacist and director of HbL PharmaConsulting Dr. Hedva Barenholtz Levy to discuss her work as a certified geriatric pharmacist in St. Louis. They break down her the importance of medication adherence, as well as any potential health risks related to the medication that you take as you age.

Dr. Levy highlights the pharmacist’s ability to answer the pressing questions that you may have, regarding the medication that you take. Joe and Dr. Levy discuss how important a pharmacist is in an era of specialists in medicine, as well as the pharmacist’s ability to promote safety, health outcomes that doctors are looking for when prescribing, and the peace of mind for you when you take them.

Dr. Levy discusses the resources that seniors have in the community, in order to gain more information about the medications that they take. The group also discusses the process of becoming a board-certified geriatric pharmacist, as well as common problems that seniors have with their medications.

Understanding Nursing Homes Part 2 [Episode 86]

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Attorney-CPA Joe Cordell and co-host Susan Arthur continue their discussion from the previous episode about nursing homes and long-term care facilities. Joe explains the historical timeline of legislation that regulated the nursing homes and long-term care facility industry, as well as what a resident assessment plan is.

Joe states that a resident assessment plan is a document that includes the senior’s health history, doctor’s orders, and prescriptions, among other items of information. He also explains what a comprehensive person-centered care plan is, as well as the regulations regarding informing family members of significant changes in the senior’s health.

Joe goes into detail on areas that government regulations forbid within nursing homes and long-term care facilities. The issues that seniors face in long-term care facilities need to be treated, and the families need to be notified with explanations given. Joe also details alternatives to restrictive methods that long-term care facilities may employ for the safety and well-being of the senior, as well as issues surrounding facility staffing.