A Chicago Man Quietly Left Behind $11 Million — The Largest Unclaimed Estate In American History

Block Club Chicago ^ | 24 Oct 2022 | Mack Liederman

[Vigilanteman]

Don’t forget the lawyer’s share.

[gloryblaze]

... Sadly, $11 million is no longer a fortune.

It's close enough for yours truly.

[SamAdams76]

Yes, important distinction between living broke and dying broke. Nobody wants to live broke.

As I work with a financial planner, my goal is to retire at 67 with enough savings to maintain my current standard of living for 20 years, independent of Social Security. So that gets me to age 87, which happens to be the same age the guy in this article kicked off.

If all goes according to plan, when I'm 87, I'll be pretty much out of savings and reliant on whatever Social Security and home equity has for me. I argue with my financial planner on this point but I tell her that if I make it to be that old, I'll be in my bonus years, content to be sitting on my front porch with a pitcher of iced tea and watching the world go by. I won't need all that much at that point, I'll just be happy to get up in the morning and listen to a little music or read a nice book.

[FamiliarFace]

Cute. Reminds me of a piece of paper that my aunt once gave me at Christmas. I thought she was giving me funds for Christmas that year, instead of a gift like blankets or some such other that she usually gave. I think it said “certified Czech” or something to that effect on it. Good for a chuckle. Yes, she did give another gift, but that one was to be opened first. Funny lady. She had a great sense of humor.

[DUMBGRUNT]

—”Some lawyer is going to make about $10M here.”

Unlikely even for Chicago.

If they can show the hours, perhaps a million or so.

If the judge is of the same ethnic line he may have a closer look...

[StAnDeliver]

Joseph Standelivercak, I remember him well! Check please!

[FamiliarFace]

*** After taxes, the average heir will get a check in the $60,000 range, Piercey said.***

Still, not bad for someone you never even heard of.

[DUMBGRUNT]

—”Anybody can become a millionaire on a modest income. “

The problem is that with biden inflation we all become millionaires, of a lesser order.

[DUMBGRUNT]

—”We’re up to descendants of his great-grandparents at this point.”

Sounds like a lot of lost motion.

[Bernard]

“To such a man, and only such a man, could I entrust my Fortune!”

[StAnDeliver]

"Dang! I was hopeful I was one of his heirs because of my Czech family history."

Maybe your Czech is in the mail!

[The Truth Will Make You Free]

since he was the last one left may have inherited all of their wealth as well.

That sure makes sense.

[miserare]

I am 87, and you are correct.

[StAnDeliver]

Listen while this thread is still young, besides have a Last Will & Testament, the other useful thing to do is name beneficiary/beneficiaries to things like your primary checking account. Say you are a widower with 20K in a money-market checking account (and the rest deeply invested) and two kids, name both as beneficiaries to that account and when you go, they have a huge head start in most states as to final arrangements (even if you have pre-paid funeral, you are leaving a month's worth [or longer] of bills to finish off).

[FamiliarFace]

Maybe! Or maybe someone back in the old country will get it! Perhaps my old pen pal from when I was a little girl. To my knowledge, she’s still there. My cousin went there a few years ago, and looked her up. Still in the same little town in the same piece of property. All grown up, though!

[Demiurge2]

Hey, that’s my Uncle Joe! He adored me!!!

[cyclotic]

My dad had his estate in perfect order. His wife got the house, cars and stuff along with enough for her to be very comfortable for life.

My brothers and I split only cash and stocks, making it very easy to deal with.

[cyclotic]

I have a great uncle like that. He’s also named Joe. He’s in his mid 90’s. Never married. He’s the last of about 7 siblings.

He has dementia and is in a facility pretty far from here. I think he’s still alive but haven’t heard anything about him in a couple years.

He was an accountant so I assume he had a healthy investment portfolio.

[M1903A1]

All that money and he stayed in Gage Park? (It’s next to Englewood and almost as bad.)

[Mark]

Oh no! Uncle Joe is dead?