Thursday, September 20, 2012

There Is Gold in the Walls!

After an unmarried Nevada man died, authorities discovered $7 million of gold bars and coins stashed in his house.  The man had lived alone since his mother's death in 1992.  He was apparently dead for a month before neighbors reported a smell emanating from the house.  His left no will so his first cousin, whose phone had been disconnected, will inherit the estate as his closest relative.

I am uncertain about what lessons can be learned from this story but I will suggest a few.

1.  It is always best to leave a will instead of relying on the intestacy statute to determine where assets where go after death.

2.  People should check on their "crazy neighbors" because they, instead of cousins with disconnected phones, might inherit assets at death.

3.  Living isolated and alone without visiting doctors can lead to a premature death.

4.  Gold has been an incredible investment the past several years.