There are many different lessons we can learn about estate planning from the mistakes of celebrities today, and as more people live into their nineties and their one hundreds, it will become increasingly important to think about issues that are arise during the course of your life and not just your death. 
The elder abuse allegations surrounding Stan Lee are just a fraction of what might happen in coming years for elderly people with significant wealth. The 95-year-old creator of Marvel Comics, including the Fantastic Four and Spiderman, currently has an estate that is estimated at more than $50 million. However, he also suffers from vision, hearing and memory problems, and according to reports, is unable to make decisions for himself to resist undue influence.
Family members, business associates and caregivers have all been accused of attempting to manipulate Mr. Lee to give up control of his assets. Many people believe that this will happen increasingly as higher numbers of people live into their 100s. Far too many people overlook the critical estate planning process of issues linked to aging and later life. Older clients may consider consolidating their financial accounts to get an easier and faster read on their current assets, and to use tools such as a revocable trust to most appropriately protect themselves.
Working in advance to determine an asset protection plan and to develop tools and strategies for protecting the asset someone has spent most of their life working to build can have a major benefit for protecting this estate in the future. Schedule a consultation directly with an estate planning lawyer to learn more.
