Flexible WP Excerpt Snippet

excerpt.php

<?php // outside the loop 

	// empty more text on custom excerpt
	function custom_excerpt_more( $more ) {
		return '';
	}
	add_filter( 'excerpt_more', 'custom_excerpt_more' );
	
        // instantiate global excerpt string
	$more_text = "Read More&hellip;";
	
?>

<?php // inside the loop

if (!is_singular()) {

	global $more_text;
 	
 	if (has_excerpt()) {
 		// if it has a custom excerpt
		the_excerpt();
		?>
		<p><a class="more-link" href="<?php the_permalink() ?>"><?= $more_text ?></a></p>
		<?php
	} elseif (strpos($post->post_content, '<!--more-->')) {
		// if it it has a break tag
		the_content($more_text);
	} else {
		// display the default excerpt
		the_excerpt();
		?>
		<p><a class="more-link" href="<?php the_permalink() ?>"><?= $more_text ?></a></p>
		<?php
	}

} else { 

	the_content();
	edit_post_link('Edit Post', '<div><small>', '</small></div>');	

} ?>