In the News – Stan Lee: Estate Planning Takeaways from the Marvel Legend’s Elder-Abuse Saga
With the recent loss of legendary Marvel creator, Stan Lee, there are some valuable lessons that we can take in regard to estate planning and elder care. According to a recent article on Investment News, Stan Lee was reportedly worth more than $50 million. With such a large value due to the growing popularity of his superhero characters and movies, many people were interested in getting a share of his worth towards the end of his life. At 95 years old, Stan Lee suffered hearing, vision, and memory impairments that allowed family, caregivers, and other associates an opportunity to manipulate a share in his estate.
Greg Iacurci, author of this Article in Investment News, suggests that everyone prepare their estate plan sooner rather than later. The first step he suggests is to consolidate all of your financial accounts into one so that there are not as many institutions to keep track of. Additionally, establishing a revocable trust as part of your estate plan can protect your assets from financial elder abuse. Plus, in the event that you become incapacitated, a revocable trust establishes a designated successor and power of attorney to ensure that your wishes are seen to. Finally, ensure that your estate plan includes your chosen trustees to avoid financial abuse by those who wish to make a claim on your assets.
There are many different factors to be considered when creating your estate plan to avoid elder financial abuse in the future. Working with a qualified and trustworthy estate planning attorney is a must to protect yourself and your assets. Pankau Law has the trusted estate planning attorneys of the Chicago suburbs that you need. Call us today for a free consultation!
This content of this blog is intended for informational purposes only. It is not intended to solicit business or to provide legal advice. Laws differ by jurisdiction, and the information on this blog may not apply to every reader. You should not take, or refrain from taking, any legal action based upon the information contained on this blog without first seeking professional counsel.