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Case Study – Uncovering Stock Assets Valued at $300,000
The aunt of the executor passed away, leaving a sizable estate. Included in the assets were stock certificates for 40 different companies that had been purchased decades earlier. In discussions, the brokerage firm insisted they had accounted for a complete inventory of shares. In his investigation, Gary R. St. Pierre, CPA suspected that the companies might have had several stock splits during the intervening years since the stocks were purchased.
Gary investigated the history of all 40 company stocks and traced the dates of all splits over a period of several decades. He found that 20 of the stocks had splits where the certificates of ownership had not been issued. Armed with this new information, the estate was able to obtain the certificates it needed through the transfer agent. This investigation yielded additional assets totaling in excess of $300,000.
Other Cases
In other cases, assets have been discovered in missing bank accounts because the bank had the wrong Social Security number. These discoveries by Gary R. St. Pierre, CPA put these hidden assets in the hands of the rightful owner and out of the hands of the state.
Appraisers often find other hidden assets when artwork, antiques or collectibles are discovered to be of much higher quality and value than the heirs had believed. In other situations, fine jewelry is discovered among the costume jewelry.
Summary
These are just some of the circumstances that can lead to the discovery of significant hidden assets in an estate. Such discoveries more than pay for the cost of the investigation, not only in monetary terms, but also in the rediscovery of a precious keepsake that provides the heirs with a cherished reminder of the lost loved one.
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