Establishing a Durable Power of Attorney [Episode 65]

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Attorney-CPA Joe Cordell and co-host Susan Arthur dive back into durable Power of Attorney, as they break down the general version, as opposed to the health care version. They talk about different options that surround the durable Power of Attorney, such as whether or not you want the durable Power of Attorney to be in effect immediately and the amount of authority you give someone.

Joe and Susan discuss the importance of having someone spring into action when an emergency arises and the role of a fiduciary in the Power of Attorney process. A fiduciary’s duty when it comes to a Power of Attorney differs from when it comes to trusts, and Joe and Susan discuss the importance of choosing the right person to fill that role for each entity.

Joe highlights the importance of cataloging and organizing important documents and information, in relation to the agent in a durable Power of Attorney and trustees when trusts are in use. He talks about where to start in your elder planning, if you have yet to start.

Navigating Family Issues in Estate Plans [Episode 64]

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[vc_row][vc_column][vc_column_text]Attorney-CPA Joe Cordell and co-host Susan Arthur touch upon the will and probate process discussed last week before they dive into the possible conflict that can arise among families regarding estate plans. Joe will explain how courts handle no contest clauses with wills and how many going through the estate planning process will initiate a transfer before the estate plan goes into effect, in an effort to prevent conflict.

He details why a video may be a beneficial medium, in detailing the wishes of the estate plan in many situations. Joe explains that a spousal share entitles a spouse a share of the estate. They talk about the ins and outs of an augmented estate, which is a court consideration of a transfer intended to defraud the marital rights of the surviving spouse.

Joe also breaks down durable Powers of Attorney for health care and how important it is to find the right person to appoint as your agent.[/vc_column_text][/vc_column][/vc_row]

The Positives of Probate [Episode 63]

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Attorney-CPA Joe Cordell and co-host Susan Arthur continue last week’s discussion, touching on irrevocable trusts and how the entity allows for the flexibility that many are looking for in their estate planning. They explain the features and limitations of irrevocable trusts and how the experience of an elder law attorney can assist you in determining if they are the best option for you and your estate.

Afterward, Joe and Susan dive into the probate process, highlighting the ins and outs of this necessary procedure. They discuss the interpersonal side of the process and how it can affect the financial side.

Probate is a procedure that can take time and cost money, but the process offers the protection and analysis that you need, in order to make sure that your wishes are honored. Joe and Susan discuss what happens with probate when someone dies without a will versus when they do have a will.

Navigating Wills and Trusts Part 2 [Episode 62]

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Attorney-CPA Joe Cordell and co-host Susan Arthur continue their discussion on wills and trusts. They break down the roles you assign to others when you create a will or trust and how conflict can arise when you have one person occupying all three roles.

Joe and Susan talk about the opportunities that trust provides, in having control of the assets and being able to offer beneficiaries a meaningful gift after you die. They break down the ins and outs of revocable and irrevocable trusts, as well as how irrevocable trusts can be tax instruments for the wealthy.

They break down the regulations of how the trust interacts with qualifications for Medicaid, as well as the difference between income versus principal, in terms of funds within the trust. Joe details the provisions of an asset protection trust and recommends what to include in an irrevocable trust and what not to include.[/vc_column_text][/vc_column][/vc_row]

Navigating Wills and Trusts Part 1 [Episode 61]

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Attorney-CPA Joe Cordell and co-host Susan Arthur begin a two part journey on wills and trusts. They highlight intestate succession and the necessity of the probate process. Probate can be a polarizing subject, but Joe explains how it functions to make sure that the wishes of the deceased are carried out.

Joe and Susan discuss why having a will is so important and why you should be suspicious if you get a will for less than $500. They also explore the ins and outs of the different types of trusts and what you can accomplish with a trust.

Joe details the positions involved and each of their responsibilities when a trust is involved, as well as the history of transferring assets. He also talks about the importance of choosing trustees, as well as dealing with internal family conflict when dealing with the estate plan. The plan needs to cover possible risks that can arise, especially when it comes to the surviving spouse.

Navigating the Myths and Misconceptions of Medicaid and Long-Term Care [Episode 60]

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[vc_row][vc_column][vc_column_text]Attorney-CPA Joe Cordell and co-host Susan Arthur break down many of the myths and misconceptions that exist, when it comes to Medicaid, Medicare, and long-term care. They start the show by explaining that Medicare addresses injuries or illnesses, as opposed to chronic care or custodian care, as well as detailing the impact that families and private resources have on the medical economy.

Joe and Susan detail their list of Medicaid myths and misconceptions and debunk them, including the need to sell your house and give it to the government, in order to be Medicaid eligible, the illegality of giving away assets, in order to be Medicaid eligible, the length of the waiting period involved in Medicaid, and more.

Joe also breaks down how the involvement of families on accounts and assets can affect how Medicaid sees transactions within the last 60 months and how proof is necessary to help this process.[/vc_column_text][/vc_column][/vc_row]

Avoiding Mistakes in Your Estate Planning [Episode 59]

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Attorney-CPA Joe Cordell and co-host Susan Arthur break down the mistakes that notable individuals have made in their estate plans. For example, former Supreme Court Justice Warren Burger did his own estate planning and left out provisions that ended up costing his loved ones. Doris Duke was not discerning in her choice of executor and trustee when she was estate planning, costing the charities that she wanted to help significant amounts of money.

Florence Griffith Joyner did not inform her family where her estate documents were located, making it so her probate took four years to close. Michael Jackson never fully funded his trust, leading to public fights, probate courts and more.

Joe and Susan highlight how important it is to have a lawyer that understands estate law and avoid the mistakes that others have made. Additionally, Joe highlights how trusts can reduce the challenges and risks that many who utilize wills may come across.[/vc_column_text][/vc_column][/vc_row]

Thinking Differently About Treatment [Episode 58]

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[vc_row][vc_column][vc_column_text]Sharon Hepburn, a physical therapist and founder of The Inner Connection, returns to ElderTalk with Joe Cordell and discusses every day activities that can be beneficial for ailments for aging patients with attorney-CPA Joe Cordell and co-host Susan Arthur. She also discusses alternate forms of treatment and mindful-based stress reducers that can help treat ailments.

There are many ways of developing bone strength, and Sharon discusses some of the supplements and methods of treatment that people who face ailments and the risk for falls and fractures can take, such as Calcium D and various infusions. She also talks about how walking around the house, easy weight-bearing activities can help strengthen your bones, as well as exercises and stretches that people can do, in order to build strength and regain aspects of your health.

They also discuss aspects of how diet and spirituality can play a factor in maintaining health and wellness.[/vc_column_text][/vc_column][/vc_row]

Breaking Down Bone Health [Episode 57]

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[vc_row][vc_column][vc_column_text]Dr. Andrew Spitzfaden, an orthopedic surgeon of Woods Mill Orthopedics, joins attorney-CPA Joe Cordell and co-host Susan Arthur to discuss the importance of bone health as you age. They break down hip and knee replacements, as well as alternative ways of fighting bone and joint-related ailments.

Dr. Spitzfaden explains osteopenia, a condition where the body does not make new bone to the extent that it used to. He discusses how it impacts women to a greater extent than men, as well as low-impact cardio exercises, in order to stimulate and strengthen joints and bones.

He highlights the new developments occurring in medicine, when it comes to ways to treat the pains involved in the aging process, as well how genetics can play a factor in the challenges in knee or joint ailments.

If you or someone you know is facing bone or joint-related issues, please contact Dr. Spitzfaden at Woods Mill Orthopedics for more information.

Andrew C. Spitzfaden,M.D.
Woods Mill Orthopedics, Ltd.
314-576-7013[/vc_column_text][/vc_column][/vc_row]

Deciding Your Living Arrangements [Episode 56]

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Eileen Lambert, a certified senior advisor with Oasis Senior Advisors, joins attorney-CPA Joe Cordell and co-host Susan Arthur to discuss the steps that seniors have to take in deciding their living arrangements as they age. She breaks down the housing options that seniors and their families have, when coming to their business.