What Casey Kasem Can Teach You About Estate Planning

Every time that you read about a respected public figure suffering financially, it is often the common reaction to question the legitimacy of the situation. How did they spend ALL that money? We often forget that there are so many elements involved, like multiple marriages or poor financial planning. Read the following article for insight on what we can learn from Casey Kasem's current situation.

It's always about money, even if it isn't. Estate planning, especially in a second marriage, can require a lot of thought and effort. Does everything go to the surviving spouse, does it get split with the kids, does it go to the wife first, and what's left goes to the kids? If it goes to the spouse directly, the kids generally see that as you just stole from them. If it goes to the spouse first, then what is left over goes to them, then every dollar she spends is seen as taking money directly out of out their pockets, slowly, for the rest of her life. Either way, there is a lot of tension that does not get better over time. Even if the kids do not care about money, they care that the spouse (who is not their mom) is getting it.

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