Recently, Stan Lee, the comic book mogul best known for creating much of the Marvel universe, passed away at the age of 95. Lee’s 68-year-old daughter is his only surviving family member, as his wife had proceeded him in passing. Now, many are considering how the tumultuousness that surrounded Lee prior to his passing will affect the distribution of his estate.
See, back in February, Lee had signed a document indicating that his own daughter recklessly spends money and verbally abused him. Lee also claimed that his daughter was friends with three men who were set out to take advantage of him. Although the document was notarized, Lee later rescinded it. Though the details of his estate plan, if in fact there is one, are yet to be known. When and if it becomes public knowledge, it will be interesting to see if his daughter’s behavior affected how Lee dictated his estate distribution.
Lee’s case highlights an issue that many individuals face: lack of confidence and the possibility of being influenced. These issues can easily arise and can create massive headaches when it comes to estate planning. This is why those thinking about estate planning should try to figure out how to simplify their estate and determine how it will be managed. Other important considerations include figuring out a system of checks and balances with regard to an estate, how often to review the estate plan and whether discussions about estate planning should involve family members.
As you can see, estate planning can quickly become a tangled web of confusion and misinformation when you don’t act carefully and plan comprehensively. Individuals should thus do everything they can to make sure they leave no stone unturned when it comes to preparing for the possibility of long-term care, incapacitation and estate distribution. A qualified legal professional may be able to help develop the customized plan these individuals need to feel confident in the future handling on their estate.