Now being consumed by taxes and inflation.
I’m surprised the State isn’t seizing the estate.
And a bunch of undeserving relatives.
I believe that is my long lost Uncle Stancak.
Haven’t seen him in years.
7 kids in the family and not one had kids. That’s the saddest part.
Uncle Rudy!
Cousin Joe! Damn, I wondered where he was and had no idea he died. Time to contact the Chicago authorities. 🤣🤣🎶
“I hated all the things I had toiled for under the sun, because I must leave them to the one who comes after me. And who knows whether that person will be wise or foolish? Yet they will have control over all the fruit of my toil into which I have poured my effort and skill under the sun. This too is meaningless. So my heart began to despair over all my toilsome labor under the sun. For a person may labor with wisdom, knowledge and skill, and then they must leave all they own to another who has not toiled for it. This too is meaningless and a great misfortune. What do people get for all the toil and anxious striving with which they labor under the sun?” - Ecclesiastes 2:18-22 NIV
OMG! It’s my long lost great uncle Joe!
Some lawyer is going to make about $10M here.
***The 119 heirs to Stancak’s millions are in Poland, Slovakia, Czech Republic, Germany, the United Kingdom, Canada, Iowa, Minnesota, New Jersey, New York, and “there’s a handful in the Chicago area,” Piercey said.***
Dang! I was hopeful I was one of his heirs because of my Czech family history.
$93K each. Not bad!
As he was 87, he likely had around 50 productive years where he was making money at a job. If he put 20% away on even a modest income, and invested in something similar to a indexed mutual fund based on DJIA or S&P 500, it makes sense he would have that kind of money today, even after some 20 years of retirement (and I'm just guessing he retired at the traditional age).
Plus, since he didn't have a wife or kids to support, he might have socked away even more than the 20% of income.
Anybody can become a millionaire on a modest income. All you need is the discipline to set aside a portion of your salary each pay period - and time.
Illinois estate tax about $1 million, but no Federal tax.
So $11m and 119 claimants.
$92,000 each (minus the lawyers cut of course).
I’ve got one of those right now, though only about $2M at the moment. Guy (fellow church member I never met) found dead in his house, no will, no wife, no kids, no siblings. One of the pastors calls me because I do probate, court makes me temp administrator for the sole purpose of locating the will. The only “will is a partially drafted one on his computer. Court says, “Tag, you’re now the permanent administrator, find the heirs”. We’re up to descendants of his great-grandparents at this point.
All that work and now some bureaucrats and lawyers will piss it all away.
Sadly, $11 million is no longer a fortune.
Wow. Certainly I must be a distant cousin or something.
Between a sense of "I'll have time to do that later.", and other priorities, its too easy to put off.
None are guaranteed another breath.
Uncle Joe!
Sorry I lost touch, been busy, donchaknow...