Law Offices Of Connie Yi, PC
Tell Us About Your Case

For the safety of our community, clients and staff, we have suspended all in-person meeting effective March 17, 2020. All consultation meetings will be via Phone or Zoom Video Conferencing. Please contact us at 925-484-0888 or email us directly at [email protected] to schedule the consultation.

Bay Area Estate And Tax Planning Law Firm
Estate Planning
Trust Administration and probate

Get
Started

Famed superhero creator’s estate battle offers instructive lessons

| Jun 21, 2018 | Uncategorized |

It’s unlikely that the Black Panther or Spider Man would need any help with this. And a character like the Hulk would certainly confront the challenge in resolute head-on fashion, spending scant little time pounding all obstacles into submission.

It is a bit of a different matter, though, for Stan Lee, the legendary comic genius who created those fictional icons and other top-tier Marvel crime fighters.

Those figures can live on forever in uncompromised strength and glory.

Lee, unfortunately, cannot.

He is human of course and, at age 95, reportedly suffering from some physical and cognitive setbacks that are entirely understandable.

And, because he is a public figure, some rather sad details are emerging currently related to what is clearly an acrimonious battle surrounding Lee’s personal estate. The Marvel mainstay has estimated wealth pegged at north of $50 million. A recent in-depth Investment News article notes that Lee’s accrued fortune “is allegedly under attack from financial predators.”

Reportedly, the individuals wanting a piece of Lee’s wealth span family members, care providers, business associates and additional parties. Varied stories concerning Lee’s estate planning and the existence – or absence – of select executed documents now simply stress the general confusion inherent regarding his finances, coupled with Lee’s vulnerability to be exploited via elder abuse and undue influence.

Some commentators point to Lee’s case as being highly instructive, owing to America’s large and aging senior population. They stress the need of close consultation with proven estate administration professionals who can help ensure that appropriate planning strategies are timely executed to guard against fraud and exploitation.

Not everyone will plan, of course. And because they won’t, says one estate planning analyst, “The Stan Lees will happen more and more.”

Categories

Archives

FindLaw Network

Recent Blog Post

What are reasonable fees to charge as a trustee in California?

When implementing an estate plan in California, it is essential to ensure that you receive the proper compensation for the amount of time and work you are putting in. The probate court will look through the amount you charge to see if it is reasonable, especially if...

What to know about life insurance trusts

California families have an exemption for their estate that keeps it from being subject to income taxes. However, above that $11.7 million, the estate tax bill could get large. This is why they need to take measures to reduce the size of their taxable estate. Life...

Are estate taxes headed for changes?

Not every inheritance involves paying estate taxes, but some estates rise above the federal exclusion amount. California residents that feel familiar with state and federal tax rules might not realize changes could happen. Namely, proposals intended to raise tax...

View More Blog Posts