13th Feb 2011
Do you have a “hoarder” in the family? Someone who collects everything and throws nothing away?
The task of going through everything is daunting. The temptation is to call 1-800-Got Junk and have them pick up everything.
Don’t do it!! At least not just yet. Here’s some stories by estate attorneys and others that will blow your mind.
New York City Appraiser Peter Curran tells of going through a house “stacked to the ceilings with stuff. Under the #@&%, however, was several important 18th Century antiques and a couple $Million worth of stock certificates”.
Detroit CPA Sean Lane writes “I found with one client over $18,000 in various places…But the most distressing, is the loaded firearms that I found in places you would never think to look at twice….Expect the unexpected in any hoarding situation.”
The best story related to me by another attorney is the story of Lavere Redfield who died in 1976 in Reno, Nevada. Hidden in his house in Reno were 407,596 silver dollars worth not less than about $27 each at today’s silver prices.
On behalf of one client, I tracked down $36,000 in a brokerage account that no one knew about, by calling a phone number on a paper found by the family.
In another case, my client found $30,000 stuffed in socks in the sock drawer.
In Part 2 of this series, I will give you a partial list of hiding places known to attorneys, appraisers, and others where “hoarders” hide the goodies.
This blog is intended for informational purposes only and is not a substitute for legal advice from a qualified estate planning attorney in your jurisdiction.