My grandfather that is really old, old to the point where he cant remember stuff. Would if be possible to find out if he had stocks or invested money somewhere, that he doesnt remember? If so how would the family go about doing that?
2006-07-14 05:47:01 · 4 answers · asked by Anonymous in Business & Finance ➔ Investing
Does he have a Will? His investments may be stated there.
If you find the Will, you will find the investment papers, probably. Also find his Birth Certificate and Insurance papers. Look for signs of a Safety Deposit Box, or a special round-headed key.
If you live with him, or ask his caretaker, he would be recieving statements from investment accounts. If it has been a long time, they still have to report either annually or quarterly.
If he is still alert, but just forgetful, he will be aware of your rumaging and looking, and may think you are waiting for him to die so you can collect your inheritance. That's a good way to make sure you inherit nothing.
Ask him if his affairs are in order, or if he may need help organizing such things. Who is his advisor, or who is his attorney?
2006-07-14 09:15:13 · answer #1 · answered by dredude52 6 · 0⤊ 0⤋
Ask grandpa about insurance investments, and let him know that you are worried that someone may take advantage of him. Someone that he trusts very much should present this to him and ask his permission to help him get everything in order. If his memory loss is more than just senior moments, have that person get a Power of Attorney signed and notorized, or the investment companies/insurance companies/banks will release nothing to you. You may also want to consolidate his accounts so that when he passes, you will have to only deal with one or two companies not 15. Probate could be a mess. Ask me how to avoid that. I'll give you all the advise I give all my clients and their families who deal with ailing parents.
2006-07-15 03:00:50 · answer #2 · answered by Susan C 3 · 0⤊ 0⤋
if he did old paper tradeng you would have to look through everything. I would search the SEC website for answers, maybe call someone there.
2006-07-14 12:50:10 · answer #3 · answered by Anonymous · 0⤊ 0⤋
everything needs evidence. you have to find what is under his signature.. papers!! proof!
2006-07-14 12:50:31 · answer #4 · answered by LetMEtell&AskYOU 5 · 0⤊ 0⤋