Can you find out what companies people have invested in? - Chicagoland Sportbikes
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post #1 of 4 (permalink) Old 10-18-2005, 01:21 AM Thread Starter
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Can you find out what companies people have invested in?

So my grandfathers only living sister has alzheimers very badly and she is in a nursing home in TN. The alzheimers has gotten so bad that my grandma now has power of attorney because my grandfather to has alzheimers, but thank god it's not bad and hopefully never will be. However his sister couldn't even tell you who she banks with or anything.

Anyway, my pops sisters bank called my grandma because she was seriously overdrawn on her bank account. Her nursing home rent is 1800.00 a month and then meds ranges from 2-3 grand a month. The bank told them that she had a cd and some stock with the bank that was about 10500.00, so they cashed that in to give her money. However with her expenses that won't be enough for her to live on. They know that her and her husband invested in a bunch of stocks and companies, but have no idea who, and their is no paperwork to be found. They received this letter from Chase talking about tobacco funds, how if she cashes in some tabacco fund that she has, they will give her one lump sum....but their is a ton of information that they are asking for and they have no idea where to begin to find it. Their was also a big lawsuit that my pops sister was going through because one investment company scammed her out of 60 g's, they said that whatever she invested would be secured which was 60 g's, however when it came time to pull that money out, the investment company said everything was gone. They have no idea where to start to find out what happened to that lawsuit or how to keep pursuing it, they only thing they know is that it was never settled and she is still out the 60 g's.

Has anyone ever experienced something like this? I've been searching for information online, but haven't found anything that can provide me with the info I need.

You know what pisses me off is that people who live in nursing homes have to pay that much fuckin money in rent! Just goes to show how are government has their heads up their asses!!!! 1800 a MONTH!! JEEZZ I don't think the average american pays that type of money on a mortgage!! Okay I'm done with my rant now!

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post #2 of 4 (permalink) Old 10-18-2005, 01:51 AM
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nursing costs are high, but supposedly you're not just paying for the space...that is supposed to cover staff costs, food and other services...

back to your other question about what they're invested in you should be able to find monthly or quarterly statements in their mail or at least a 1099 annual form that states who/what/how much for where their money is

did you try looking through past tax return forms?

perhaps they documented their stock investments in their will?

Last edited by Ernie; 10-18-2005 at 01:54 AM.
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post #3 of 4 (permalink) Old 10-18-2005, 08:34 AM
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It's always tough to hear about this kind of stuff. I know how tough that can be on a family.

I'm not a lawyer, but I will tell you that power of attorney gives you free reign over that person's life. In addition to what Ernie mentioned (1099's are a good start) you might want to hire a probate lawyer or other individual specializing in estates. They should be very familiar with the ways to track down a person's financial history. ...just a thought.

As for the nursing home, unless Medicare, personal Insurance and Social Security are covering the tab - it can be very $$. Private facilities even more so. Though I disagree - others around here have suggested that socialized medicine is the fruit of the devil... regardless I hope you can keep making the payments. State funded facilities are often times "less desireable".

Good luck.

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post #4 of 4 (permalink) Old 10-18-2005, 08:46 AM
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Quote:
Originally Posted by Ernie
nursing costs are high, but supposedly you're not just paying for the space...that is supposed to cover staff costs, food and other services...

back to your other question about what they're invested in you should be able to find monthly or quarterly statements in their mail or at least a 1099 annual form that states who/what/how much for where their money is

did you try looking through past tax return forms?

perhaps they documented their stock investments in their will?

ditto...also maybe worth a check to get his social security # and check if any US bonds are registered to it. Some older people bought bonds often. Otherwise, just keep checking the mail for info on accounts.

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