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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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Strange Phone Call
I just got a phone call from someone claiming to be with Cowden Bancorp. Seems like my Great Grandmother (who did have a sizable estate) owned shares in the local bank. When she died, her holding were rolled into a trust. My aunt (the person in control of the trust), wants to dissolve the trust and distribute the holdings to the heirs. I get half of my dad's share. My sister gets the other half. She wants this done before the end of the year and needs my SSN to cut a check.
Now, alarm bells went off that someone preying on my greed is trying to get my SSN. I told the lady that I would call her back. Through independent verification, including a phone call to my aunt, numerous Google searches, and a call to the bank the lady claimed to work for (number attained through Google, not her), I've been able to verify that this is, in fact, all legit. Talking to my sister, who got the same phone call ten minutes after I did, she wanted to know how much I thought we would be getting. Let's see, there were around 30 heirs initially, but many of them have died and they have kids... My Great Grandmother bought her share in a local community bank 8 decades ago (she was trying to keep it from going out of business during the Depression), but that bank has merged dozens of times since then... So we have an unknown share of an unknown investment that has been diluted by mergers. I have no idea what the check will end up being. I will be happy with whatever this pleasant surprise ends up being.
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Some Porsches long ago...then a wankle... 5 liters of VVT fury now -Chris "There is freedom in risk, just as there is oppression in security." |
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12-31-2007, 09:56 AM
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Targa, Panamera Turbo
Join Date: Aug 2004
Location: Houston TX
Posts: 22,366
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I would have your laywer or accoutant call her up and make the arrangements. Sounds a tad fishy but I hope it is legit. Great way to start off the new year!
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Michael D. Holloway https://simple.m.wikipedia.org/wiki/Michael_D._Holloway https://5thorderindustry.com/ https://www.amazon.com/s?k=michael+d+holloway&crid=3AWD8RUVY3E2F&sprefix= michael+d+holloway%2Caps%2C136&ref=nb_sb_noss_1 |
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12-31-2007, 09:59 AM
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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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It does sound fishy, but that is why I spent the last two hours making phone calls to verify.
It is legit. It does all add up. My Great Grandmother was from Cowden, IL. I was able to verify through Ameritech that the extension I was called from does belong to Cowden Bancorp's office in Springfield, IL. I even called their main number and asked for the lady I was called, and was connected back to her. My aunt verified that she is dissolving the trust. She thought it would be a "nice surpise". Yes, my aunt is a little flaky. My SSN is needed for the wonderful tax documents that will accompany the check.
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Some Porsches long ago...then a wankle... 5 liters of VVT fury now -Chris "There is freedom in risk, just as there is oppression in security." |
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12-31-2007, 10:05 AM
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Registered Cruiser
Join Date: May 2004
Location: Pursuing Happiness
Posts: 3,892
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If there is a branch local to you it might be a good idea to go in person to give them your SSN. Have fun with the new loot.
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87' Carmine Red Carrera - Keeper 82' Silver SC - Sold 79' Gran Prix White SC - Sold 05' Black C2S - Daily driver I have never really completely understood anything. |
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12-31-2007, 10:12 AM
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Registered
Join Date: Oct 2000
Location: agoura hills, ca 91301
Posts: 2,634
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Hey Chris,
You don't know it yet, but you and I are related. Add 6 more to the list as I have 5 siblings. Ask Snowman, he'll back me up! 
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12-31-2007, 10:25 AM
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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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Quote:
__________________
Some Porsches long ago...then a wankle... 5 liters of VVT fury now -Chris "There is freedom in risk, just as there is oppression in security." |
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12-31-2007, 10:29 AM
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Registered
Join Date: Oct 2005
Location: Magnolia State
Posts: 7,548
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I handled something remotely similar...client had received a gift valued at about $35K some 35+ years ago. Due to splits and renvested dividends it ended up being a tad over $2.5 million. And she stilled *****ed about the capital gains tax 0f $400K.
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12-31-2007, 10:44 AM
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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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Quote:
__________________
Some Porsches long ago...then a wankle... 5 liters of VVT fury now -Chris "There is freedom in risk, just as there is oppression in security." |
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12-31-2007, 10:46 AM
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Registered
Join Date: Oct 2005
Location: Magnolia State
Posts: 7,548
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Quote:
MAMAW...now pay up 
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12-31-2007, 10:47 AM
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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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Quote:
But here's to the dream... 
__________________
Some Porsches long ago...then a wankle... 5 liters of VVT fury now -Chris "There is freedom in risk, just as there is oppression in security." |
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12-31-2007, 10:54 AM
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Registered
Join Date: Oct 2005
Location: Magnolia State
Posts: 7,548
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Quote:
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12-31-2007, 10:56 AM
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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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Don't tell me that!
Now I'm going to have all sorts of crazy fantasies...   
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Some Porsches long ago...then a wankle... 5 liters of VVT fury now -Chris "There is freedom in risk, just as there is oppression in security." |
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12-31-2007, 11:01 AM
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Registered
Join Date: Oct 2005
Location: Magnolia State
Posts: 7,548
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Keep in mind had she invested only $10K 70 years ago and it doubled every 7 years it'd be $10,400,000.00 today
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12-31-2007, 11:02 AM
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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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La! La! LA!
I can't hear you! I'm only getting $0.23 after tax... I'm only getting $0.23 after tax... I'm only getting $0.23 after tax... I'm only getting $0.23 after tax... I'm only getting $0.23 after tax... What does an F40 cost? I'm only getting $0.23 after tax... I'm only getting $0.23 after tax...
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Some Porsches long ago...then a wankle... 5 liters of VVT fury now -Chris "There is freedom in risk, just as there is oppression in security." |
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12-31-2007, 11:07 AM
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Registered
Join Date: Oct 2005
Location: Magnolia State
Posts: 7,548
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Quote:
(or maybe F150  )
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12-31-2007, 11:11 AM
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Registered
Join Date: Oct 2005
Location: Magnolia State
Posts: 7,548
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Just for ****s and giggles...how many kids did your great grandmother have? And how many did your grand mother have?
Last edited by Dueller; 12-31-2007 at 11:20 AM.. |
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12-31-2007, 11:16 AM
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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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I have no idea how many kids my great-grandmother had.
My grandmother had three kids. There are six grandkids from them.
__________________
Some Porsches long ago...then a wankle... 5 liters of VVT fury now -Chris "There is freedom in risk, just as there is oppression in security." |
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12-31-2007, 11:20 AM
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Registered
Join Date: Oct 2005
Location: Magnolia State
Posts: 7,548
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Let's assume your ggm had 4 kids and left it in equal shares to them.
Then gm would be entitled to 25% Your father would be entitled to 8.33% (25%/3) Your share would be 4.167% Your share of the $10,400,000.00 would be $430,336.80 |
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12-31-2007, 11:26 AM
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Canadian Member
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Legion,
Sounds fishy? I've been involved in a few estates and nothing happens fast. Hello, we need this done today? Good Luck, I hope its bigger than you imagined! Happy New Year too, |
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12-31-2007, 11:35 AM
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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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I agree, nothing happens fast. I managed my father's [small] estate and it took over a year to sort out.
However, it sounds like my aunt had the ball rolling on this quite a while ago.
__________________
Some Porsches long ago...then a wankle... 5 liters of VVT fury now -Chris "There is freedom in risk, just as there is oppression in security." |
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12-31-2007, 11:37 AM
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1974 w/89 Look Porsche 911 Cabriolet 2.7 L Rebuil
993 TT
