Joseph E. Cordell

Attorney, CPA, Author, Speaker

Having Confidence in Your Estate Plan [Episode 151]

by

Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by TuckerAllen attorney Teresa Yao to discuss estate planning and elder law mechanisms that you need to have in place, in order to maintain confidence with your future plans.

Teresa emphasizes the importance of having a plan in place and how the COVID-19 pandemic has acted as a reminder of it. She describes how personal the estate planning process can get and how dedicated estate planning and elder law attorneys are at connecting those personal stories with the outlined goals of the desired estate plan.

She emphasizes the importance of having the tough conversations regarding estate plans and who gets appointed to do what function. Teresa cautions against giving the same levels of responsibilities to the same people and how that may be counterproductive to decision-making within an estate plan.

Joe and Teresa explain what an institutional trustee is and how it can function in estate planning. Teresa also explains the ins and outs of probate and how it authenticates a will and allows assets to pass.

Podcast: Play in new window | Download | Embed

Subscribe: Android | RSS

Balance of Life and Estate Planning During COVID-19 [Episode 147]

by

Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by TuckerAllen attorney Teresa Yao, to discuss so many of the health risks associated with those vulnerable to the Coronavirus (COVID-19).

They talk how physical conditions and temperaments play a factor in contagion levels around the United States, as well as around the world. Joe, Jill, and Teresa highlight issues around the state and country, where companies are opening up their workplace.

The group discusses the impact that COVID-19 has had on Americans around the country, including unemployment, closure of companies, and possible mutations of the disease.

They describe how estate planning and long-term care planning instill balance to your life. Teresa dives into her process of building an estate plan, from both an asset and philosophical perspective. She highlights the importance of planning for the possibility that you may become incompetent.

Joe and Teresa dive into the process of constructing a durable Power of Attorney, including choosing an agent, choosing successor agents, and forming end-of-life decisions.

Podcast: Play in new window | Download | Embed

Subscribe: Android | RSS

Estate Planning Mistakes to Avoid [Episode 111]

by

Attorney-CPA Joe Cordell and co-host Susan Arthur identify some of the missteps that people make in their estate planning and highlight methods of avoiding these mistakes. They talk about the legal side of facing disasters when traveling with loved ones and how contingent agents and contingent trustees can be beneficial in times of crisis.

Joe and Susan talk about the challenges involved in leaving assets to minors and the importance of specific language in legal documents, as well as the implementation of trustees, in order to ensure the asset be maintained until the minor is of a specified age.

Joe and Susan discuss how marriage and prenuptial agreements can factor into the protection of assets and estate planning. They discourage only naming one person in your estate planning documents and emphasize the importance of including a residuary clause. Joe also highlights the importance to include advanced health care directives that reflect your wishes.

Podcast: Play in new window | Download | Embed

Subscribe: Android | RSS

Avoid Common Missteps in Your Estate Plans [Episode 108]

by

Attorney-CPA Joe Cordell and co-host Susan Arthur dive into some of the more common mistakes that people make when estate planning. They talk about the hazards surrounding losing track of where your will is or not updating it.

Joe and Susan also talk about the complications surrounding pets and providing for them in your estate plan. They bring up pet custody and the modern commonality of including your pet in your estate plans through the uniform trust code.

They highlight some of the issues surrounding property, as well as creative property, and make recommendations, including putting property within a revocable living trust. Joe talks about the use of a deed of gift within a trust and how beneficial this mechanism can be.

Joe talks about the benefits of a trust owning an asset, in order to offer the asset and your loved ones protection from financial hardship or other risks.

Joe and Susan explain how interpersonal dynamics can play a factor in various parts of the estate planning experience, as well as how you should avoid surprising your spouse with the details of your will.

Podcast: Play in new window | Download | Embed

Subscribe: Android | RSS

The Hazards of Forms in Estate Planning [Episode 107]

by

Attorney-CPA Joe Cordell and co-host Susan Arthur caution the hazards surrounding forms on this episode of ElderTalk with Joe Cordell. They discuss the importance of planning for your future, and not just after you die, as well as the consequences of choosing a more inexpensive and convenient method of estate planning, as opposed to meeting with an elder law attorney.

Joe navigates the ins and outs of a testamentary trust, a beneficiary deed, and a payable on death provision. Susan tells a cautionary story of someone who utilized a form for his estate planning, forgot purchased stocks, and it ended up costing his loved ones after his death.

Joe emphasizes making your trust a beneficiary, in order to move assets into the trusts. He describes what you, as the client, are entitled in your estate planning documents and how they meet your unique priorities. Joe also highlights the importance of having a springing Power of Attorney.

Podcast: Play in new window | Download | Embed

Subscribe: Android | RSS