Death of superhero creator raises planning questions

On Behalf of | Dec 3, 2018 | Estate Administration And Probate |

People in Georgia who are fans of the Marvel superhero universe might think about their own estate plans following the death of Stan Lee, who was a publisher and chairman of Marvel Comics. He created the iconic characters of Spiderman, Captain America and the X-Men and amassed significant wealth over the course of his illustrious career. While it is not yet publicly known whether he left a will, Lee’s passing raises estate planning questions that his fans would do well to answer themselves.

According to the Hollywood Reporter, in February 2018, Lee executed a document claiming that his 68-year-old daughter screamed and yelled at him, befriended three men to take advantage of him and spent money frivolously. After the document was executed and notarized, Lee took the claims back. Issues with family members can often be avoided with timely discussions, and even those who are not wealthy can benefit from estate planning and preparation.

When putting together an estate plan, the priorities should be the organization and ownership structure of assets, the management of accounts and trusts, the creation of estate planning documents, the execution of beneficiary designations and the monitoring of assets. Planning for disability or incapacity is also important as is creating a schedule for the reevaluation of the estate plan.

Georgia residents who do not have estate plans in place might want to schedule a consultation with a lawyer. An attorney who has experience in estate planning law might be able to help a person by identifying and organizing assets or developing a plan that takes into account his or her unique situation, goals and needs. A lawyer might suggest powers of attorney, trusts or other estate planning instruments in addition to a will. A well-thought-out plan can give someone peace of mind and make things easier on his or her heirs when the time comes.