Stinky Cheese Man

Eugene Brown died at the age of 93 in Corning ,California. His body was discovered after the mail carrier reported that he was not sitting outside waiting for her for five consecutive days. He was survived by three nephews and a niece, but was in contact with none of them.

He owned a house purchased in the 1970's, a car purchased in the 1980's with only 74,000 miles on it, and $2.7 million. He did not have a bed and only had two slices of wrapped cheese singles in his fridge at the time of his death. Besides the mailman, the only person who he spoke with regularly was his investment manager. Because he did not have a will, his nephews and niece inherited his estate even though some of them had not seen him in 50 years and some thought he had died years ago.

Several repetitive points:

1. Without a will, state law determines who inherits an estate. The result is the closest living relative(s).

2. 56% of Americans do not have a will.

3. Mr. Brown did not have any friends, but was a somewhat devout Catholic. He could have left his estate to any number of Catholic organizations.

4. Rather than saving his money so that his distant relatives could inherit it, Mr. Brown would have been better off spending at least some of the money on a bed, a more modern vehicle, unprocessed cheese, and attorney fees to prepare a will.

Photo Credit:  Tehama County Public Guardian
License:  Fair Use/Education (in linked article)

"Who Wants Flowers When You Are Dead? Nobody."

Lamont Buchanan, the reputed role model for the second greatest fictional character of all-time (Holden Caufield of “Catcher in the Rye”) died without a will two years ago. A woman claiming to be his long-lost 80 year old niece was located by several heir hunting firms and has now stepped forward and filed documentation to prove that she is his closest living kin. Buchanan was an author who lived in an NYC rent controlled apartment and essentially stopped working in the mid-50's. His estate is valued at $15 million.

A few points:

1. A childless widower worth $15 million should take the time and splurge on legal fees to prepare a will so his fortune ends up with those charities or people important to him rather than defaulting to a woman who was unaware of his death.

2. After estate taxes, a $15 million estate in NY is worth $10 million.

3. Perhaps the owners of his rent controlled apartment should share in his estate because the mandatory low rents likely contributed to his accumulated wealth.

4. It would be ironic if the woman claiming to be Buchanan’s niece is a phony.

                                           Photo credit:   NY Dailynews
                                           License:  Fair Use/Education