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.

Planning for Your Future [Episode 68]

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Attorney-CPA Joe Cordell highlights those who are not quite at the age of needing the services of any type of estate and elder plans, but why it still is important to do so. He talks about the importance of knowing the government rules and how your age interacts with the regulations regarding elder law and estate planning.

He talks about how the start of the process can lead to disagreements among otherwise peaceful families, regarding who gets what in terms of assets and responsibilities. Joe also breaks down the necessity of having a health care proxy, such as a health care Power of Attorney. He explains how vital it is to make your wishes regarding the simplest aspects of your future known.

Joe also breaks down the rules and regulations that kick into effect after you die. He explains why probate is a necessary part of the process and how many look to trusts to avoid wills and probate.

Financial Planning for Elderly Housing and Long-Term Care [Episode 67]

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Mark Werner, owner of Cornerstone Advisors and certified financial planning professional returns to ElderTalk with Joe Cordell to discuss financial planning, as it pertains to housing for the elderly. Attorney-CPA Joe Cordell and co-host Susan Arthur join Mark in the conversation to highlight the methods to pay for the medical or custodial care that seniors often require in their housing.

Mark breaks down how the features of the housing care affect the costs and planning involved in the process, as well as how an attorney and a financial advisor working in tandem can be an effective way of building a plan, in order to pay the necessary expenses while protecting assets.

Mark also addresses questions regarding long-term care insurance by giving an example of how payments were addressed and how the chances for the need for long-term care can be a reasonable investment in your medical and financial future.

Understanding Guardianship and Conservatorship [Episode 66]

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Attorney-CPA Joe Cordell and co-host Susan Arthur break down the history of a Durable Power of Attorney and explain that a guardian refers to the care of the physical person, as well as the person appointed to make decisions about personal care, where you live, etc. Joe also describes how a conservator is in charge of taking care of your assets.

He highlights the protective mechanisms and precautions built within the court when it comes to the appointment of guardianship and conservatorship. Joe and Susan discuss the difference between being incompetent and being bad with money, as well as the liabilities that family members may have when taking on one of these roles for a loved one.

Joe dives into what negligent entrustment is and how the foreseeability of something bad happening can play a factor in what someone in a role like a guardian or someone with a durable Power of Attorney is liable for.