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Old 06-06-2014, 02:11 PM
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dynalow dynalow is offline
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Quote:
Originally Posted by Fulcrum525 View Post
There was a similar local story from a few months back...

The Magowans – The Elderly Multi-Millionaire Twins Next Door - Hartford Courant


As Hattie often states, the people with the flashy house/cars are often the ones that have their credit cards maxed out with nothing saved up.
More than a measure of truth in that....

Had an elderly widow client back in the 90's, whose only decendents were 2 grandsons. Her neice & I were her co-POAs during life and co Execs after death. Her estate was something like 3.1 mil as I recall. As the stock market was roaring in those days and she had plenty of cash to see to very modest needs and personal care to the end, I was concerned with unnecessary wealth accumulation...and the related Estate Tax. Ended up gifting $300,000 in stock to each grandson and they eventually received about 1.2 mil each when she died a couple of years later.
We provided for 24/7 live in care for her last couple of years and she passed away peacefully in her own home.
A very sweet lady. Lived in a tiny house, no car, went out rarely. She used to give me a $20.00 tip when I'd go visit her to pick up her tax info.
Rest in peace, M.G.
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