Wanderer dies and leaves behind a wonder: $263,000

I think the point of this story that is most sad is that a man died of cancer alone in a hotel room.
:(

Alli wrote:

I think the point of this story that is most sad is that a man died of cancer alone in a hotel room.
:(

Yes that is the saddest part. And he was a grandchild that seem to love him for a time. So sad

how much of this young ladys gift will be lost to inheritence tax?

owens wrote:

how much of this young ladys gift will be lost to inheritence tax?

Probably none, it's way too small.

Keep trolling.

owens wrote:

how much of this young ladys gift will be lost to inheritence tax?

your answer is absolutely 0000! She will get to keep 100% of it, because it is in cash.

At least the girl has fond memories of her grandfather. He lived simply so I hope these people don't try to over-analyze this. Still a nice, bittersweet story.

A lonely way to pass on. He was a free spirit and a road warrior. There are more people out there who are like that than we think. I feel bad that he had no one in his family there at the end. It is nice that his granddaughter will now be able to go on to college in his memory. Rest in peace John.

Here's a man that probably saved his money because maybe he thought he might have an emergency need for it in the future. He just held on to it a little too long.

I've been waiting all my life for that person that was going to rescue me by leaving me a large amount of money. How nice for her, how sad that she didn't know her grandpa better.

dlcl wrote:

<quoted text>
your answer is absolutely 0000! She will get to keep 100% of it, because it is in cash.

The first $2,000,000 is exempt so the tax is $0, it doesn't matter that it is cash - it is the gross estate -basically all property.
I'm happy she is using it to go to school - a wise investment in her future, rather than buying a bunch of bling.

Something smells like cr@p here...any unsolved murders along the roads he's traveled? Perhaps he was moving around like that from town to town and living in his truck to keep the cops from sniff'n his trail. I'd start cross-checking his DNA with murders in the areas he's squated in. Nothing is too good to be true.

What a wonderful story. Rest in peace, Mr. Grant.

jjrg7 wrote:

Here's a man that probably saved his money because maybe he thought he might have an emergency need for it in the future. He just held on to it a little too long.

And if he had spent it on cancer treatment, it would have been gone in an instant and been not nearly enough.

dlcl wrote:

<quoted text>
your answer is absolutely 0000! She will get to keep 100% of it, because it is in cash.

The fact that it is cash makes no difference regarding the inheritence tax...simply it is below the the exemption amount and therefore is not taxable.

Now the fact that it is cash makes me think...did they give it all to her?

You gotta be kidding me wrote:

Something smells like cr@p here...any unsolved murders along the roads he's traveled? Perhaps he was moving around like that from town to town and living in his truck to keep the cops from sniff'n his trail. I'd start cross-checking his DNA with murders in the areas he's squated in. Nothing is too good to be true.

Am I ever glad your in michigan. Goof !

I saw a bumper-sticker that seems appropriate here. It read: "Everyone who wanders is not lost."

Hey if i was retired, wife already passed, and noone else really thats the life i would want. Driving across the country just enjoying a simple life with no real bills over my head and he probably got a pension check every month and just cashed it and spent what he needed and no more. Lucky guy. he did what he wanted it is too bad he died alone but really when you think about it we all die alone even when people are next to us. Each death is unique to our individual selves.

Donald Driver wrote:

Shame Obama will take 40% of that as an Estate Tax.

troll

My father grew up as this man did during the depression. Its amazing to me how my dad was always so simple when it came to buying "just the necessities" and saved and saved so if he died my mom would be comfortable. And his plan worked just as he hoped. This is a cool story.

Donald Driver wrote:

Shame Obama will take 40% of that as an Estate Tax.

For a person dying during 2006, 2007, or 2008, the "applicable exclusion amount" is $2,000,000, so if the sum of the taxable estate plus the "adjusted taxable gifts" made during lifetime equals $2,000,000 or less,*there is no federal estate tax to pay*. According to the Economic Growth and Tax Relief Reconciliation Act of 2001, the applicable exclusion will increase to $3,500,000 in 2009, the estate tax is repealed in 2010, but then the act "sunsets" in 2011 and the estate tax reappears with an applicable exclusion amount of only $1,000,000 (unless Congress acts before then).