Cleaning deceased MIL condo and found $15K cash

Be Leary on the amount of deposits as you may end up paying taxes on it.

Keep in smaller chunks or simply use in daily life(food, gas) but transfer the amounts from your own funds.
 
^^EXACTLY^^ Use the cash...15K isn't that much. Do the education fund transfers through your existing bank. It'll take no time to go through $15K.

Remember to open (leaf through) every book you find in her house.

RIP
 
Well, you have to admit, it's a nice find. Nice little gift to those doing the cleaning, although I don't think it was hidden with that intent.

Hmm, could be a way to incentivize my survivors to clean up the house after I'm gone... just hint that I might be stashing money in random places...

What do they call that? Easter Eggs? When cleaning out my grandmothers house we came across a knickknack that had been up on the wall for years. One of those wooden martinet things that was wearing a barrel saying "I went to Las Vegas and all I got was this" sort of thing. Turns out, the barrel isn't attached. It comes off--and the martinet is rather happy to see you as he springs to life. We laughed and laughed... I guess old people weren't always old.

Anyhow. I'm starting to keep more money at home, for random purchases of CL or for emergencies. But that money is being kept in a firesafe box along with important documents. I don't plan on having a fire. Well, I guess I am but you get the idea. I'd hate to lose case just because I had it in an envelope.
 
Originally Posted by Mr Nice
No, she did not work a government job. Some older people don't trust the government with their money.

All the cash looks like when law enforcement raids a drug dealers home and they recover lots of cash. We'll just have to make a few deposits to our credit union, then transfer to grandchildren's 529 plan.

Making several deposits to get around reporting rules could be illegal. Take it all down there at once if you're going to deposit it.
 
Last edited:
Originally Posted by madRiver
Originally Posted by CT8
Younger people are afraid of cash. Credit card or living out of the ATM.


And old people are afraid of banks......

My mil is the same....

I don't believe in cash myself with advent of credit card and ability to use phone to pay.
Cards don't work so well when the power is out or Internet is down.
 
Originally Posted by madRiver
Be Leary on the amount of deposits as you may end up paying taxes on it.

Keep in smaller chunks or simply use in daily life(food, gas) but transfer the amounts from your own funds.

That's what I would do.
 
Originally Posted by madRiver
Be Leary on the amount of deposits as you may end up paying taxes on it.

Keep in smaller chunks or simply use in daily life(food, gas) but transfer the amounts from your own funds.

Originally Posted by Kira
^^EXACTLY^^ Use the cash...15K isn't that much. Do the education fund transfers through your existing bank. It'll take no time to go through $15K.


That's what I've been advised if a nice chunk of hard cash was ever dropped in my lap. Don't deposit it, but use it to pay for groceries, gas, etc - the day to day stuff.

Are there siblings ? You say "grandkids" so I wasn't sure. If there are, are they all in agreement with this ? Hate to say it, but some people get greedy....
 
Originally Posted by madRiver
Originally Posted by CT8
Younger people are afraid of cash. Credit card or living out of the ATM.


And old people are afraid of banks......

My mil is the same....

I don't believe in cash myself with advent of credit card and ability to use phone to pay.


There are a lot of places in the world where that isn't true. You need cash.

Snowy Vermont road at night, stuck in a ditch, that tow truck driver* isn't carrying Apple Pay. You want out? It's cash.

Taxi in a foreign country. Maybe they take plastic. Often not. It's cash.

Card declined at a restaurant overseas because your bank "protected you" from fraud? It's cash.

Hurricane/ice storm/whatever hits. Power is out. You want food? Gas? It's cash.

I use plastic or PayPal for 95% of my purchases. I pay nearly all my bills via my bank's iPhone app.

But I always have cash.

Always.


*if you're near Stowe, it's Willie's. Cash only. The ridicule for being a stupid flatlander and ending up in a ditch is no charge, though.
 
Last edited:
Sorry for your loss.

When I was younger, My Father told me, "there is no money hidden in the house,
so don't be tearing the house apart looking for it".
I always appreciated knowing that.
Nothing more frustrating than having to waste time looking in every hiding spot for cash.

Well, he passed away and that left dealing with my Mother, and she did hid money.
Not only that, but she was becoming a hoarder.
Only good thing about having to look for money is when you find it in an envelope, you know exactly what's inside without opening it.
An envelope of money has a reeeal nice feel.

I also suggest, don't deposit it in a Bank.
BUT, in settling an Estate and dealing with Beneficiaries, Go by the book / 100% honesty.
Also important is keeping accurate records.
 
Last edited:
Originally Posted by Astro14
Originally Posted by madRiver
Originally Posted by CT8
Younger people are afraid of cash. Credit card or living out of the ATM.


And old people are afraid of banks......

My mil is the same....

I don't believe in cash myself with advent of credit card and ability to use phone to pay.


There are a lot of places in the world where that isn't true. You need cash.

Snowy Vermont road at night, stuck in a ditch, that tow truck driver* isn't carrying Apple Pay. You want out? It's cash.

Taxi in a foreign country. Maybe they take plastic. Often not. It's cash.

Card declined at a restaurant overseas because your bank "protected you" from fraud? It's cash.

Hurricane/ice storm/whatever hits. Power is out. You want food? Gas? It's cash.

I use plastic or PayPal for 95% of my purchases. I pay nearly all my bills via my bank's iPhone app.

But I always have cash.

Always.


*if you're near Stowe, it's Willie's. Cash only. The ridicule for being a stupid flatlander and ending up in a ditch is no charge, though.


* Tow truck drivers take your license if no cash for pull out. Happened once to myself(black ice) and once to my father on ice spinout. I typically carry tow strap and people are over eager to prove themselves and large vehicles with a pull. Its really nice.
* ATM card and Credit Card no issues ever. Both are never rejected at same time.
* Other countries cash is different story agreed
* Hurricane and storm our local major truck stop works fine with diesel backup, satellite internet backup which covers fuel. Also our local grocery store takes checks.
* I simply have no carried cash in a long time, I am sure it will burn me one day but thus far no.
 
Originally Posted by dlundblad
That's a good plan you have there with the money.

I do wonder how much other stuff is hidden?

Having cash around is nice, but yes this is a bit excessive. Lol. When I had my grocery store job, the Visa (EFT: Electronic fund transfer?) machine's system went down and apparently it was a statewide thing. Many people couldn't buy their groceries and had to leave because they didn't have that money in cash. Granted this doesn't happen often, but having seen it happen first hand is enough for me to not go out without it. The same thing happened to me a few years ago when I needed gas. I just put $20 in it since I didn't have enough in my tank to make it home.


Should you decide to keep it and spend it, I would at least get rid of any evidence it came from Social Security. Government may try to take you to court, being it's the exact amount issued in every envelope - unspent and not deposited.

Big Brother may be reading my comments.
 
I understand what just happened to Mr. Nice. Three years ago my dad passed away just a month after my mom had passed. Me and my two siblings found $31,000 in cash in a small sentry safe in his bedroom. We had no idea. He and my mom were both depression era survivors and didn't trust banks very much either.
 
Originally Posted by MasterSolenoid
BUT, in settling an Estate and dealing with Beneficiaries, Go by the book / 100% honesty.
Also important is keeping accurate records.

I wouldn't keep any (written) records. As long as everyone involved, i.e. siblings, are on board with the plan, just keep it amongst everyone and verbally understood and agreed upon.
 
Seems to me that cash is part of your mother-in-law's estate and any of her personal debts, taxes etc. all need to be settled from that cash, and then the rest of it is distributed according to her wishes in her will, or probate court. Found money like this even after the will is read, does not make it a cash bonanza for the finder even if they are family members. I would talk to a lawyer before moving that cash anywhere. Just my 2 cents maybe you already have done your due diligence.
 
My mom's aunt (no children of her own) once took her aside and said, "pay attention to the toolbox in the garage." After she passed, and much time had passed, a contractor was cleaning out the house, garage, and found a massive diamond ring in the box. A man of honor, he turned it into the estate.
01.gif
 
hallstevenson,

She only had 2 children, one died of cancer and the other is my wife.

So far we found $28K. Crisp brand new bills as far back as 1995.

I know she was worried about SS reducing her retirement income but this is ridiculous. We are going inch by inch of her condo and nothing in the cookie jar .... but cash found in dog mattress. I wish she would of left everything in her bank and listed my wife as TOD / POD to easily transfer the money.
 
You must log in or register to reply here.

Similar threads

H
The cost of living in 2024....
12 13 14
Replies
276
Views
10K
Dave Hess
Zee09
The Deep Clean Scam
4 5 6
Replies
117
Views
6K
PWMDMD
Brons2
School me on foreign property ownership, from a USA perspective
Replies
13
Views
1K
cptbarkey
0
  • Locked
SSA death benefit question
Replies
7
Views
2K
ChiTDI
P
  • Locked
'09 MB C300 - 21 month/15k review of E85
Replies
11
Views
3K
Nyogtha
Back
Top