At Marvel in New York in the 1960’s, Stan Lee created incredible comic book characters that dominate the box office today. You would have to live in a lonely cave not to recognize one of Stan’s most iconic characters below:
Stan Lee died recently at the age of 95 and had been ill for a while. The last years of his life were extremely tumultuous as Stan dealt with the death of his wife Joan and an ongoing battle over his care and estate with his daughter J.C.
Lee’s tale is one of family fights, elder care issues and numerous legal and financial advisors coming and going. In one example, Stan and his late wife had put together a trust for their unruly daughter with the proclamation that “It is not uncommon for J.C. to charge, in any given month, $20,000 to $40,000 on credit cards, sometimes more.” Then not long after, Stan took back all the negative things he said about his daughter. Suffice it to say, the relationship was rocky.
Reading about the death of Stan Lee highlights the importance of proper estate planning. Celebrity estate plans often put a spotlight on the mess of dying without having a will or trust. You may recall reading about the tangled estate planning stories of radio star Casey Kasem, NBA Clippers owner Donald Sterling and astronaut Buzz Aldrin.
Comparing Stan Lee to these other famous people, there is a common theme. As a person ages and cognitive function declines, someone must step in to handle the financial and medical affairs. This is why the Power of Attorney is one of the most important documents in your estate plan.
Attorney Brad Barth is one of our top experts in estate and asset protection planning. In the video below, Brad breaks down exactly what the Power of Attorney document is all about and how it impacts your life.
You may have heard the statistic that 60% of all Americans have ZERO estate planning in place. Then “life happens” and people and businesses get hurt both emotionally and financially.
Take a minute to click below to schedule a brief call to learn more about our complimentary estate planning assessment. Find out what you can do to get organized and updated.