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Estate Planning: Advice from an Elder Law Attorney

Finishing Well / Hans Scheil
The Truth Network Radio
August 17, 2019 8:30 am

Estate Planning: Advice from an Elder Law Attorney

Finishing Well / Hans Scheil

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August 17, 2019 8:30 am

Proverbs 15:22 says "Plans fail for lack of counsel, but with many advisers they succeed."   This week, Tovah Mitchell, elder law and estate planning attorney, joins Hans and Robby as an adviser to help you succeed in finishing well. She covers everything from power of attorneys to stock certificates and taxes.    


Estate planning is for everyone. Once you turn 18, you're an adult. Your parents cannot help you unless you have the documents in place. Tovah does say it is important to remember that estate plans do not just involve legal documents though, you have to consider what life insurance you have, your IRA holdings, you Social Security benefit, and so much more. This is why it is so advantageous to have a financial planner and attorney who can work together to come up with a complete plan for finishing well.  


Do you know which document is the most important legal document? Tovah says it is the Financial Power of Attorney, or Durable Power of Attorney. This makes sure that someone you trust can take care of your finances when you cannot. A Healthcare Power of Attorney is another important document everyone needs to have in place.If you go to the hospital, it allows someone to advocate for you to make sure you receive the care that you want. But how do you pick the person or persons to designate? Tovah goes over the advice she gives her clients.  


You also need a HIPAA release as well as a Last Will and Testament. Make sure to review and update these on a regular basis. At Cardinal, when new clients come in, Hans makes sure to look through their legal documents to make sure everything is correct, especially if they have recently moved, been married or divorced, or a close family member has passed away.  


Lastly, Hans and Tovah discuss clients that they had to work on together, which involves how estates handle stock certificates as well as what can go wrong with your estate if you do not pay your taxes properly.  


Don't forget to get your copy of "The Complete Cardinal Guide to Planning for and Living in Retirement" on Amazon or on for free!


You can contact Hans and Cardinal by emailing or calling 919-535-8261. Learn more at  

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You're listening to the Truth Network and Welcome to finishing well brought to you by Cardinal God Certified financial planner belonged to Schild, best-selling author and financial planner helping families finish well over 40 years on finishing well will examine both biblical and practical knowledge to assist families in finishing well, including discussions on managing Medicare IRA long-term care life insurance and investments and taxes.

Now let's get started. Finishing well. Many counselors you don't know what you don't know so you will actually find yourself in desperate need of God to help you get through life as you don't know what you don't know, but also that led to diversity funds to make counselors is in our case today. The thing is that God has brought into your life is your practice.

Yes yesterday, totemism who practices law in these orders here, our home office sent over Mitchell Attorney at Law yeah Matt when my mother moved to Raleigh area. She was midway through memory loss and Alzheimer's and reappear rear.

Because the house and we returned to matters of specifically exactly what meeting you needing a financial plan. So I learned a lot through that process a total was the results of so maybe you want talk a little bit about what you did for my younger and has all his yeah I was wondering if we wanted to shoot (rulers start family reason couple young kids. She invited her work here.

We have heard no, I do usually prefer, because a lot of people in 20 people 20 employees bringing in clients advising them on Medicare long-term care, life insurance, estate planning just to have an attorney this year is available and we can ask questions to educate me and other services. Great resource and specifically a lot of folks really need to talk into their inner 60s about preparing for the 70s and 80s brass 90s of plans they need to class you are in in the whole thing is just the house you are here is a great relationship is as I have no idea. You know, and you begin to become incapacitated for you really got the point where I contract where he spent $7000 based on your advice and place by God in Christ. November's work in October when Ashley was in December and sauce is over $7000, but because I now have one. I was able to collate. I have a power of attorney and through that situation say is $7000 just this one is your time to show this is all else. Don't kid you can't go get them to sign for things or say what else people sides of Dr. procedure is now your situation.

You have those well specifically wants to go to this place is silly that he was in you went for use both before and I've heard you coming get some advice on how to pick that child processes person at the latest thing you want later on Cardinal all day so is Stateline. You can get a PDF absolutely is that Stateline click on that PDF copy of this chapter of the book possible to complete the planning for retirement is also is on. Expensively write a website you sent about charging download specific check so Tova helped me she was just coming with us. When I was writing this book. Help me a lot because most of the simple full legal stuff and some in there but is really intended to show just tell you what you need to return healthcare power of attorney release.

Doctors can freely give out your information last will and testament. We just a client comes from.

Look through their documents also show some have been there all set. But many times show find some things change in our life. A lot of years ago a RI did it work very worst part is so hello Mrs. Jake is on top or show your clients for whom she's worked with my side of the firm's insurance pieces. She certainly worth a lot.

You really opening up selling to mystics, maps these documents in place to call up these people on-site insurance, child over worst case she's to call to ask if they want talk to us specially about deceased person's account got all the documents in place now have Lori thanks to you, I'm able to call up the insurance company say.

Lori just got this document watches you identify yourself. I want I want her to give permission for me to talk so second part of the show top and before you can use speak quickly, about this. I have several insurance company before talk about legal stuff or tax advice.

It's all part of the person is a large stock brokerage firm's insurance offering any type of insurance it says in the disclaimers we do not offer tax. We do not offer legal vice. Consult your legal contacts that are there for years we would have problems. We just got here is Hans and I would love to take our show on the road to your church, Sunday school, Christian or civic group. Here's a chance for you to advance the kingdom through financial resources by leveraging Hahn's expertise and qualified charitable contributions veterans aid and attendance IRA Social Security care and long-term care.

Just go to Cardinal and contact Tom to schedule a live recording of finishing well at your church Christian or civic group contact Tom Cardinal Cardinal you make counselors is so cool.this is to help people in that stage of life with what I found out as maze is also is that you will empower attorneys and stuff is time to have some great we were talking about all the different disciplines was people in the financial business of insurance business, giving legal advice, and tax.

And I'm not were not part you were invented to take that risk really solve problems for people with all kinds of clients that we run into or maybe were talking to him about Medicare once you start investing their stuff in your text and then when you dig deeper changes in the legal stuff.

So, having Tova right here and available to serve people is just one example of this talk a little bit about Lori, how she came to us she really came to her friends as slaves yet intimate.

This lady's house was a horror as she changes her described. I case but this place to stop the mess she could put her hands on her money.

You know all about you are core problems. As she put $200,000 from a Roth IRA goal is gold coins she got in a bad place. So we started out right away trying to help recoup this money that dentist, we ended up hundred $85,000 investment gold coins weeded out. 25,000 back gold coins she sold Ashley in the still unexplained loss. We were glad to get the hundred 25 is through a whole bunch of Mr. stuff started digging through the war from her deceased husband had we found stock certificates, looking top is not on the way her making her fine list is where I care not me. She said she was about ready to see that one. I like the last record but you are me and is not IRA and you know is it hurting his transfer on death as beneficiary is so when she dies. Her children are just to get this money weeks and weeks and on the insurance products so the Vermonter pierces his transfer issues all planned out is not dependent on some software installed on the computers were sent out here we got you right here so she passed away this past part of the equation when you're trying to figure out.

You gotta get back work often in others, such as toddlers, so Lori's season is file taxes 13, 15, not force.

Just this 1315 die 16 so you file 16, 17 or 18, and she did so now we have CPA Tova straightened out that so just just fair for your life is years I had my years there. All I for the force is a you as well for me is losing some control of his faculties so many times your family show what you don't know show you something for your life and that is really helpful to see what is right for you with your taxes is that you just as well outside which you all the best, planning, legal planning, and follow the sign so we planned or I sit atop the team legal, accounting, CPA tax, insurance and investment so you really got a team of four advisors that may be top team in each person has a role in his auto worries goes through all of the subjects yet we start working with start working with people, we help those problems, we asked questions were questions forward. You do it because you set up your will exactly the way you want to work out the IRS for your ears. All those in order to set up a life insurance policy making things by promising beneficiary or seven churches beneficiary that money is distributed. Finishing well certified financial planner, shop is associated, find so that your call our number: and find some worries about today's estate planning.

We hope you enjoy finishing well you by Cardinal visit Cardinal for free downloads of the show or previous shows on topics such as Social Security, Medicare, IRAs, long-term care, life insurance, investments and taxes as well as constant best-selling book, the complete Cardinal guide to planning for and living in retirement and the workbook once again for dozens of free resources past shows you get Hahn's book go to Cardinal if you have a question, comment or suggestion for future shows. Click on the finishing well radio show on the website and send us a word.

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