Tag Archive for: limited power of attorney

Protect Yourself With a Plan in Place While Overseas [Episode 109]

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Attorney-CPA Joe Cordell and co-host Susan Arthur discuss the legal implications and challenges of unexpected injuries or deaths that occur while on trips and vacations. They talk about possible sources of the problems that cause unexpected injuries during trips or vacations, as well as being prepared with the resources necessary to facing the unexpected during these situations.

Joe and Susan present a checklist of practical insights on how to face injuries or other physical debilitations while on a trip or vacation. This checklist includes making sure that you have a will or trust in place, some type of advanced health care directive, paying for health care and evacuation when on a trip or vacation, insurance, and your digital assets that are protected by passwords or the necessary inscriptions that you may want to give the agent of your Power Attorney access to.

Joe also talks about treaties that are in place to accommodate the health care directives involved in a durable Power of Attorney.

The Power in a Power of Attorney [Episode 104]

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Attorney-CPA Joe Cordell and co-host Susan Arthur break down the abilities that a Power of Attorney document gives the designated attorney-in-fact. Joe simplifies what a Power of Attorney is and talks about the historical context of empowering a designated individual to make a decision on your behalf.

Joe describes the different types of Powers of Attorney and their different functions. He discourages Powers of Attorney forms that exist, due to their inability to offer the specific and necessary coverage. Joe offers scenarios where having a Power of Attorney is a necessary component to making health care or financial decisions.

Joe emphasizes how naming someone as a beneficiary in a will or trust will not empower them to make decisions for you before you have died. He also highlights the emergency procedure involved in decision-making if you are incapacitated without a Power of Attorney and how it can end up costing you quite a bit.

Avoiding Power of Attorney Mistakes [Episode 97]

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Attorney-CPA Joe Cordell and co-host Susan Arthur highlights cautionary tales of celebrities and notable figures who have made mistakes in planning for the future. They talk about how these individuals’ care and finances went wrong before they died, due to the lack of protection and planning for the uncertainty of the future.

Joe and Susan talk about the importance of trusting the person that you give agency of your well-being in your Power of Attorney and weighing the pros and cons of choosing a child or family member, considering whether or not they have good judgment and will look out for your best interests.

They talk about the cases surrounding Hollywood actress Brook Astor, radio personality Casey Kasem, astronaut Buzz Aldrin, author Harper Lee, Marvel Comics great Stan Lee, and businessman Sumner Redstone. Joe breaks down the types of Powers of Attorney and when they would take effect, as well as the oversight that Powers of Attorney need, in order to prevent problems while incompetent.

Joe highlights the benefits of having a trust and how important designating a trigger and trustee is to the protection of your assets.

Leaving This World Alone [Episode 96]

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Attorney-CPA Joe Cordell and co-host Susan Arthur discuss the issues surrounding the possibility that we may find ourselves alone at the end of our lives. They talk about the historical and cultural events that have caused this to occur within the societal family dynamic, as well as life care and how vital planning is to the aging process.

Joe talks about the importance of picking someone with good character and good judgment when choosing them as your durable Power of Attorney. He highlights the benefits of utilizing a trust and talks about the charitable options that you have, if you choose to give a gift to a charitable organization as you get older or after you die.

Joe details the ins and outs of the gift giving process and how it impacts taxes. He also talks about what may be involved from a legal standpoint if you have a pet that outlives you and how you can create a trust in the state of Missouri for your pet.

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.

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.

Answering Listener Questions [Episode 51]

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Attorney-CPA Joe Cordell and cohost Susan Arthur take listener questions on this episode of ElderTalk! They explain how to plan for long-term financial planning for medical expenses, debt protection in cases of power of attorney, qualifying for Medicaid coverage, and navigating insurance premiums.

Gain Security and Peace Of Mind Through A Power Of Attorney [Episode 28]

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Attorney-CPA Joe Cordell and Susan Arthur explain why it is important for parents to make sure their child signs a Power of Attorney document before moving away to college in order to gain both security and peace of mind.