Characters from the Marvel Comics universe, like Spider-Man and Captain America, are familiar names among many Ohio residents. The passing of Stan Lee, the company’s founder, leaves behind a large estate. Any will or trust established by the former publisher and chairman has not yet been publicly disclosed. If an estate plan is lacking, then a lengthy court process could ensue as possible beneficiaries make their claims.
The many business managers and attorneys who worked with Lee during his life could come forward with documents that supposedly apply to his estate. Media reports about Lee’s later years revealed turmoil in his life, especially about money. He reportedly said that $1.4 million had disappeared from his bank accounts. Lee had also been targeted by claims that he was in mental decline. Earlier this year, he signed a document that accused his 68-year-old daughter of verbally abusing him, spending money recklessly and associating with three men who wanted to take advantage of him. After getting the document notarized, he allegedly rescinded his claims.
With proper preparation, a person could take steps to protect against erratic behavior in later years. A person could select a trusted person or professional team to handle affairs in the event of disability and incapacity.
An attorney could assist in the preparation of estate planning documents for someone who wants to address financial and medical matters while still in a clear state of mind. An attorney could recommend how to go about selecting people to name as agents in powers of attorney. A legal review could reveal strategies for using a will or a trust to distribute assets.