Comic book and movie fans around the world have this week mourned the unfortunate loss of Stan Lee. Stan amassed significant wealth with his comic books and movies, including Spider-Man, The Avengers and X-Men. He and his wife had one daughter, Joan Celia Lee.
It is reported that in the latter part of Stan’s life that he and his daughter had many arguments about his financial affairs. Stan apparently felt that his daughter was unable to manage her affairs and was prone to over-spending.
He therefore wrote a significant sum into a Trust for her during his lifetime, which meant that she had/has to seek approval from Trustees before being able to access property/money held in the Trust. This was no doubt to ensure that she would not squander his wealth and be left destitute.
Challenging or disputing a Trust
Whilst Trusts are a very effective tool for this purpose, disgruntled Beneficiaries who, for example, wish to access all of the funds held in the Trust or do not agree with the Trustees’ decision on a certain issue, will often seek to remove the Trustees and appoint new Trustees that the Beneficiary perceives as being more co-operative.
The Courts will not remove Trustees lightly and it is therefore essential that specialist legal advice is sought as soon as possible.
How can Nelsons help?
Kevin Modiri is a Partner in our Inheritance Disputes team.
Should you wish to seek to remove Trustees or are a Trustee who is the subject of an application for your removal, the specialist team at Nelsons would be able to assist you.
For advice on any queries relating to inheritance disputes, please call Kevin or another member of the team on 0800 024 1976 or contact us via the online form.