Attorney, CPA, Author, Speaker
by jceditor
Attorney-CPA Joe Cordell and co-host Jill Enders are joined by TuckerAllen attorney Missy Shands Manning to review some of the most common mistakes that are typically made in estate planning and elder law.
The panel discusses the factors that often lead to these missteps, the consequences of the mistakes, and what you can do to avoid them.
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by Dan Pearce
Attorney-CPA Joe Cordell and co-host Jill Enders are joined by TuckerAllen attorney Missy Shands Manning to discuss many of the missteps that people make when estate planning. This not only includes mishandled estate planning documents, but also includes failing to create estate planning documents altogether.
Missy describes the biggest problem with only creating a will, as opposed to a comprehensive estate plan that also features a trust and Powers of Attorney for both financial and health care matters. She walks through the process of conservatorship appointment in the cases, where you do not have a Power of Attorney in place and highlights the differences between conservatorship and guardianship. The panel also breaks down many of the reasons why people do not have their estate planning documents already created.
Missy explains the functions of a pour-over will and how it is utilized for those that forget to include assets in their living trust. She also describes the risks in creating online wills through forms and talks about the importance of finding an attorney that focuses on estate planning and elder law.
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by jceditor
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.
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by jceditor
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.
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by jceditor
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.
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