Attorney-CPA Joe Cordell and co-host Susan Arthur highlights cautionary tales of celebrities and notable figures who have made mistakes in planning for the future. They talk about how these individuals’ care and finances went wrong before they died, due to the lack of protection and planning for the uncertainty of the future.
Joe and Susan talk about the importance of trusting the person that you give agency of your well-being in your Power of Attorney and weighing the pros and cons of choosing a child or family member, considering whether or not they have good judgment and will look out for your best interests.
They talk about the cases surrounding Hollywood actress Brook Astor, radio personality Casey Kasem, astronaut Buzz Aldrin, author Harper Lee, Marvel Comics great Stan Lee, and businessman Sumner Redstone. Joe breaks down the types of Powers of Attorney and when they would take effect, as well as the oversight that Powers of Attorney need, in order to prevent problems while incompetent.
Joe highlights the benefits of having a trust and how important designating a trigger and trustee is to the protection of your assets.