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Re: Good news...

By: De_Composed in 6TH POPE | Recommend this post (0)
Fri, 16 Feb 24 8:11 AM | 44 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 50225 of 60008
(This msg. is a reply to 44844 by Decomposed)
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Re: “I've been waiting for what seems like a year to learn more about a cousin I'd never met who died intestate. ... Just 13 cousins and a much larger estate than expected.”The check came today. Quite a bit, by our standards... and certainly better than I had any right to hope for - given that I've never even met the deceased, or his parents, or even our common ancestors (my maternal grandparents). My family was disowned by his side of the family for taking in our homeless grandfather during his terminal illness. It happened before I was born. So I've never met any member of my mother's family.

The timing of this inheritance is excellent since I'm approaching the end of my home-build and have begun to feel some financial pressure. My wife and I, after all, have to live the rest of our lives on our savings and investments, pension and social security. Thanks to the house (twice as expensive as it should have been) and Bidenflation, our nest egg isn't going to go as far as we expected when I retired.

Of course, my goal for many years has been to become a minimalist, spending-wise. When the house is done and my son finishes college (we're paying his rent), our expenses should go way, way down.... We'll be fine - to whatever extent any normal family can hope to be fine. Hard times lie just ahead for America.

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The above is a reply to the following message:
Good news...
By: Decomposed in 6TH POPE
Tue, 08 Aug 23 4:19 AM 		Msg. 44844 of 60008

I've been waiting for what seems like a year to learn more about a cousin I'd never met who died intestate. No wife, no kids, no parents, no grandparents, no siblings, no aunts or uncles. If there had been even one survivor in any those groups, they'd have gotten his entire estate. But there were none so it fell to his cousins (after the lawyers finished feeding, of course.)

I didn't know him, so I had no idea how many cousins he might have had or what the estate size might be. I wasn't expecting much - though I did know from Zillow that he lived in a large house in Georgia. That gave me a little hope.

The result came down today from the attorney overseeing the heir determination process and it was a pleasant surprise. Just 13 cousins and a much larger estate than expected. The attorneys took a lot, but less than I feared they might.

I *think* that inheritances are still tax free, but I'll need to look into it. Regardless, it was a good day.

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