Asking important questions over the process of approaching your own estate planning can help to minimize conflicts and concerns and enable you to pass on your assets to your loved ones more easily.
Unfortunately, as any number of estate planning snafus can suggest, it is far too easy to end up in a mess that is left for your loved ones to sort out. Stan Lee recently passed away and left behind what could be described as an estate planning nightmare due to his suffering from elder fraud in the past.
The comic and comic book creator was accused of sexually harassing home aides and nurses, but he reported that $1.4 million went missing from his bank accounts in the months leading up to his passing away. He also alleges that a portion of that money was stolen to purchase a condo.
When money began to come in, according to Stan Lee’s statements before he passed away, it became extremely difficult for him to plan for it and ensure that he had protected himself to the fullest. This left behind a mess in terms of a possible elder fraud and estate planning, which shares some important lessons for those going through the estate planning process today.
While estate planning can certainly be emotional and tricky, and it is not yet clear whether Lee had any trusts or wills in place, many late celebrities have avoided these documents entirely, including Prince and Aretha Franklin, just to name a few.
There are a few critical estate planning steps that every single person should take, including organizing important documents such as a power of attorney, planning for the potential of disability or incapacity, and reevaluating beneficiaries as your life changes. Having an experienced estate planning lawyer to turn to can make it much easier to approach these difficult questions and to ensure that you have considered everything possible in this process. Schedule a consultation with an experienced estate planning lawyer today in Pasadena.