How to learn from Stan Lee’s messy estate planning

On Behalf of | Nov 29, 2018 | trusts

Residents of Charlotte, North Carolina, and the rest of the U.S. should consider Stan Lee’s story as an example of what not to do when planning an estate. Stan Lee spent the last years of his life dealing with multiple business managers and attorneys, but he still left a complicated web for his family to unravel.

For example, Stan Lee reported that $1.4 million dollars was missing from his bank accounts and claimed over half of it was stolen to purchase a condo. Several months before he passed away, he signed a document that stated his daughter spent too much money, yelled at him and befriended people who intended to take advantage of him. However, a few days after he had this document notarized, Stan Lee backtracked.

Issues like these are common when it comes to the emotional process of estate planning, especially as a person ages. Age can be linked to cognitive decline, and even in cases where the person is just as capable as they always were, family members with agendas may be quick to blame age for decisions they disagree with. As a result, many people who are enmeshed in estate planning do not trust the people around them. This was one of the more severe complications of Stan Lee’s estate as lack of trust led him to cut ties with several attorneys and managers in the midst of his planning.

Stan Lee’s trouble with his estate should be an example of what happens when an estate is not well-planned. It’s important to have a will and trusts, which Stan Lee may not have had. These documents can make it easier to ensure a person’s loved ones will be taken care of.

An attorney with experience in estate planning and trusts may be able to make the process easier to understand. Estate planning is often an emotional affair, but it doesn’t have to be stressful.