Selecting Senior Housing and Care [Episode 78]

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Attorney-CPA Joe Cordell and co-host Susan Arthur are joined by Jeannie Krause Taylor MSW, LCSW, C-ASWCM, senior care manager, president for Pathway for Aging and a 20-year professional in social work. She also is the present of the Board of Directors for Housing Options Provided for the Elderly (HOPE).

They discuss the issues that seniors face that force family members to address a senior’s level of independence, as well as the ins and outs of caregiving. Jeanie recommends ways for seniors to stay in their homes longer, depending on the unique circumstances of an individual’s situation.

Jeannie also brings up various options that seniors have within the St. Louis metropolitan area. She highlights how money plays a factor in some of the decision-making and how budgets affect the recommendations she gives to senior clients and loved ones.

Jeannie discusses balancing the needs the senior with the needs of the family members and how amenities can play a factor in the decision of the senior.

Snapshot Dates and Timelines When Applying for Medicaid [Episode 77]

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Attorney-CPA Joe Cordell and co-host Susan Arthur discuss the ins and outs of Medicaid on this episode of ElderTalk with Joe Cordell. They break down the necessary steps in planning as we age. Susan talks about how emergencies can incite the need for Medicaid.

Joe and Susan clarify the income qualifications necessary for Medicaid, as well as how having a family member help with some of the care can be beneficial to your living arrangement and costs. They discuss how rehabilitation can affect issues surrounding Medicaid and eligibility.

Susan asks Joe what lawyers need to know when discussing qualifying for long-term care through Medicaid, and Joe explains the need for timelines and snapshot dates. He also explains how specific laws have been passed, in order to make sure that those in the nursing home, as well as the community spouse, can be covered.

They also talk about the importance of asset division, as of the application and as of the snapshot date, when applying for Medicaid.

Protecting a Spouse’s Assets When Planning for Long-Term Care [Episode 76]

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Mark Werner, owner of Cornerstone Advisors and certified financial planning professional, returns to ElderTalk with Joe Cordell to discuss the financial planning necessary for long-term care and how to preemptively prevent problems from occurring when you get older.

Attorney-CPA Joe Cordell and co-host Susan Arthur ask Mark about the how cashflow can affect long-term financial planning for long-term care. Joe talks about how Medicare will not pay for long-term care, and Mark recommends the use of a reverse-mortgage to prevent the need for Medicaid and assist in the payment for long-term care.

Mark talks about the sides of the problem involved in paying for long-term care costs: the spouse that is dealing with the health issue and the spouse that can find themselves left behind and in need of maintaining their standard of living.

Joe talks about how chronic disease management can factor into the call to action that should occur before an emergency does. Mark also talks about his experiences involving constraints and qualifications with Medicaid.

Having Papers in Place [Episode 75]

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Attorney-CPA Joe Cordell and co-host Susan Arthur discuss the necessity of having documents in place, in order to feel secure with your future plans.

Joe talks about the unpredictable emergencies that can come up in life and how having health care directives is necessary way to protect yourself from the uncertainty of the future no matter what your age may be. He talks about the necessity of having the authority in place, to make decisions when someone may be incompetent or away at college.

Joe distinguishes between a Power of Attorney, health care durable Power of Attorney, and a living will. He also talks about the idea that multiple people can be put in positions of authority, named in a directive. He talks about why trusts are necessary for those who have a durable Power of Attorney.

Joe and Susan take a listener question about circumventing spousal authority when it comes to “Do Not Resuscitate” orders.

Navigating Dementia and Alzheimer’s Living Options [Episode 74]

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Attorney-CPA Joe Cordell and co-host Susan Arthur are rejoined by April Haskins and Ann Warren of the Villages of St. Peters Memory Care to discuss dementia, Alzheimer’s, and memory loss and how the treatment of the symptoms is a focus of researchers in the medical field.

April and Ann talk about queuing and how it is a necessary component of care for patients with dementia and Alzheimer’s. They talk about the difficulty of being a Power of Attorney and how the necessary questions that someone in charge of medical directives are the most challenging that surround the aging process, especially in cases involving dementia and Alzheimer’s.

Joe asks April and Ann about the struggles that family members face when deciding if their parent or relative are going through cognitive issues should be in a care facility. April and Ann also explain the concept of “sundowning,” as well as some of the options that exist for those that have Alzheimer’s or dementia.

Learning More About Reverse Mortgages [Episode 73]

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Bill Nass, vice president of Gershman Mortgage and a reverse mortgage specialist returns to Elder Talk with TuckerAllen to discuss how reverse mortgages can help seniors meet their financial needs. Attorney-CPA Joe Cordell and co-host Susan Arthur ask him about the finer details of the process.

Bill explains HUD insured reverse mortgages and how the qualifications of a credit report, debt, the recipient’s age, the homeowner’s insurance costs and property taxes affect whether or not an HUD insured reverse mortgage can be given.

Bill talks about the two different types of reverse mortgages with an adjustable rate and a fixed rate, as well as whether or not people who utilize a reverse mortgage see it as a loan. He talks about the counseling process that is required for those seeking reverse mortgages.

Bill also explains to Joe and Susan how the reverse mortgage process can affect your estate planning, as well as the individuals who are most likely to benefit from reverse mortgages.[/vc_column_text][/vc_column][vc_column width=”1/3″][vc_empty_space height=”25px”][vc_widget_sidebar sidebar_id=”sidebar”][/vc_column][/vc_row]

Investing in the Planning Process [Episode 72]

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Attorney-CPA Joe Cordell and co-host Susan Arthur talk about the forms and paperwork that often can be involved in the long-term planning process. As the years go by, it is important to have a plan in place, and Joe talks about the costs that go into the estate planning process and how saving money in the planning process does not always translate into your wishes being executed after you die.

Joe discusses how the amount of money you have factors into the decision-making involved in estate and long-term planning, as well as how an experienced elder law attorney will be the one completing all of the necessary tasks to create a comprehensive and complete will or trust.

Joe also talks about how important the customization aspect of the planning process is. When you go online for a form, you may not be getting all of the customization you may require, and Joe explains why it is important to invest in the extra aspects of your long-term plan.

Affording Long-Term Care [Episode 70]

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Attorney-CPA Joe Cordell and co-host Susan Arthur are joined by Diane Finnestead, of Diane Finnestead Insurance, and Carrie Gormley. Diane started her career as a long-term care specialist and is now a National Trainer and District Specialist. Gormley has twelve years of experience in insurance and is a member of the Senior Resources Options.

The four discuss private sector solutions that people can use, in order to pay for their long-term care. They break down what the expenses can be, whether you are at home or at an assisted living facility. From an insurance perspective, Carrie talks about how chronic issues play a factor in what long-term care options are available.

They highlight the home health care policies that can be found for those in need of both short-term and long-term care. Diane also discusses how the underwriter can be an advocate for the patient, if a letter is written on their behalf. The group also touches on what happens when a patient may not qualify for long-term care.

Taking the Emotions Out of Estate Planning [Episode 69]

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Attorney-CPA Joe Cordell and co-host Susan Arthur discuss some of issues that can arise when emotions get involved in the estate planning process. They discuss the need to have a plan in place, as well as highlighting how differing viewpoints regarding who feels entitled to what can breed conflict when it comes to making sure that the wishes are carried out according to the elder family member’s request.

Joe talks about how third parties like creditors, can involve themselves in the process after the family member has died. He also discusses how customizable trusts can be, in terms of how much control to specific amounts of money benefactors are allowed.

Joe talks about the unfortunate circumstances when a benefactor goes through a divorce after receiving an inheritance and how that is sorted out, as well as how an inheritance can make someone a target and at risk for exacerbating existing addictions.