I suppose some blood-sucking real estate vampire squid will be receiving a nice check as well?
80% of the estate was in stonks. He lived off the dividends primarily.
His cost basis for the bank stock where he worked was a pittance. He diversified a good chunk after mom passed, they had been able to transfer a bunch into her name such that the survivor had their own stock not subject to estate settling for short term need and 2 step up cost basis so should the survivor need to sell they wouldn’t take a big tax hit.
I think still roughly 2/3 of the stonk balance was the bank.
1 Like
Go ahead and award yourself extra happiness points for knowing that you’re getting out of this without major headaches. This process can go extremely sideways as I learned first hand a few years back.
Troublesome brother implied to estate owing brother that he was getting an undue benefit. The trustee put that out as a minor fire. Worth every penny.
Troublesome brother will be lucky if any of us talk to him ever again.
The amount troublesome brother is whining over is 2% of the total. Jfc.
My mom lost all of her siblings over it which lasted several years and involved her doing all of the work as the executor. It was traumatizing and still affects her over a decade later.
1 Like
That’s awful. I can’t imagine if one of us had to be the “authority” instead of the trustee. By having everything in the trust our lives have been much easier and the trustee is accustomed to being the “bad guy” amongst family members.
1 Like