Wednesday, May 21, 2014
Casey Kasem, a retired musician, disc jockey, radio personality and actor, has been suffering from a type of dementia known as Lewy Body Disease. His continual deterioration has put him in the media spotlight. First, he was dealing with his children unable to see him and then, he disappeared and later found in Washington State. There are a few things everyone can take out of Kasem’s tribulations to better deal with the aging process:
- Second Marriages Need Special Planning. You must ask yourself about medical directives and power of attorney. Many things need to be addressed in order to avoid problems.
- Money is Always an Issue. In a second marriage estate planning can require a lot of effort. How much do you allocate to the surviving spouse, is it split with the children, does it go to the first wife, etc.? There may be a lot of tension that does not ease up over time.
- Things Can Always Get Screwed Up. Do not underestimate the power of social dynamics of the family that can rapidly change if things are not consistent. A gap in authority figures can create power struggles to see how that space is filled.
- Second Marriages Can Be Perfect. Through effective planning and communication with the family, you can avoid a second marriage where there is a constant struggle.
See Jerry Lynch, What We Can Learn From Casey Kasem’s Disappearance, CNBC, May 19, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.