Tag Archive for: asset protection trust

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 Financial Safeguards in Trusts [Episode 53]

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Attorney-CPA Joe Cordell and co-host Susan Arthur break down the significance of putting safeguards in place in your powers of attorney or trusts, in order to protect financial assets. They explain how they protect the asset’s overall well-being and how the failure to do so can leave the asset vulnerable in the case of an emergency.

Answering Questions About Long-Term Planning [Episode 45]

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This week on ElderTalk, attorney-CPA Joe Cordell and co-host Susan Arthur answer listener questions about housing, Medicaid, asset protection, power of attorney, and long-term planning. They identify the steps you may need to take if someone becomes incapacitated, as well the importance of taking advantage of existing laws, in order to protect your wishes and your future.

Utilizing Trusts To Protect Your Assets [Episode 4]

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Attorney-CPA Joe Cordell explains many of the misconceptions regarding trusts and details how they can be utilized to help protect a person’s assets regardless of their economic standing.