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Did Stan Lee forget about estate planning?

Nov 28, 2018 | Estate Planning

Florida fans of comic books and superhero movies recently mourned the death of the comic writing icon Stan Lee. Famous for the characters he created, Lee was recently in the headlines for both the movies based on his creations as well as his estate planning issues. Now, those problems with his estate plan may be coming to fruition.

Lee was 95 at the time of his death and had spent much of his last year in poor health. It is currently unclear exactly what kind of estate plan he left behind, and some are wondering if he followed in the footsteps of other celebrities like Prince and Aretha Franklin, leaving behind no plan at all. Even if he has some type of estate plan in place, things could still be difficult for his 68-year-old daughter.

During his later years, Lee worked with many different business managers in an attempt to better handle his finances. However, he did not seem to have much luck in this process, and switched frequently. In 2017 he reported that at least $1.4 million had disappeared from his accounts. There is also speculation that it may be difficult and time-consuming to track down all of the different documents created by his various bank managers over the years, which can prolong the probate process and leave his heirs in a state of uncertainty.

Estate planning does not have to be difficult, and even those with relatively small estates can benefit from the process. It may help Florida residents who are hesitant about the process to consider the impact on their family should they fail to take necessary planning action. Without an estate plan, surviving loved ones will have to shoulder the burden of figuring out exactly what a person’s final wishes were.