Comments on: Fortunate Son: Homeless Man Inherits $100K

After 10 Years Of Living On The Streets, Unsuspecting Fla. Man Gets Gift From Dead Mother

[montanaman9]

If the guy''s lawyer was working on a contingency basis, the norm for that is 33% of the total. That makes 67K to the guy. Then, he''s got an inheritance tax to pay, I think it''s around 25%, but a good CPA couldget it reduced with some clever tax code manipulation, say down to 20%. That leaves the guy about $53,600. Call it a windfall...and too bad, but better than where he was at before!

[montanaman9]

If the guy''s lawyer was working on a contingency basis, the norm for that is 33% of the total. That makes 67K to the guy. Then, he''s got an inheritance tax to pay, I think it''s around 25%, but a good CPA couldget it reduced with some clever tax code manipulation, say down to 20%. That leaves the guy about $53,600. Call it a windfall...and too bad, but better than where he was at before!

[jennmarikp]

It''s karma . . . I guessing this is a good man who at some point in life is or was a caring giving person. Things happen for a reason. If he is meant to live on the streets he probably will spend all of the money. But my guess is he''ll put it to better use than you or I.

[NightSongz]

He''ll blow it and be back on the street in 2 months.

[richzurb]

labrat9999 you write:

Wonder how much the lawyer took before the guy got his money? Make sure you don''''t listen to Bush and the Republicans...otherwise you would invest your money (like they wanted to invest Social Security)in the stock market and loose almost every bit!


Are you just an idiot or what. While I am sure the lawyer took a large chunk of this mans money, I highly doubt he has been in touch with President Bush or the Republican party to get financial advise. As far as loosing money in the stock market I have two things to say. 1. I doubt he will invest 2. Not everyone has lost money I personally have earned about 9.3% on my investment s this year. Not bad considering the market the way it is. I winder how much you ahve lost or if you even have any invested.

Quit trying to turn every article into a political thing. While I am sure you are a socialist, er communist....sorry democrate and would like to think all our problems are because of the republicans please educate yourself. Yes I am a republican and I think Bush and Chenny have done a losey job of running our contry. But we have had a Democratic lead house for awhile now and they are not making life any better.

[u-r-right]

Someone should set up an interest bearing account for him. He could live on the interest alone (since he already knows how to live cheaply). Otherwise, the money will be gone in a month or two.


Posted by carats100 at 12:04 PM : Aug 08, 2008

Um, you''d be lucky to get $100 a month in interest with what interest rates are today. $75 to $80 per month would be the norm on that amount of money. Harly enough for the basic necessities.

[observer2020]

crazycwp: No, meanbiker was just being a realist. After the lawyer takes just about everything for legal fees...the IRS will take the rest and the poor guy will owe them also.

[labrat9999]

Wonder how much the lawyer took before the guy got his money? Make sure you don''t listen to Bush and the Republicans...otherwise you would invest your money (like they wanted to invest Social Security)in the stock market and loose almost every bit!

[shippg]

Someone should set up an interest bearing account for him. He could live on the interest alone (since he already knows how to live cheaply). Otherwise, the money will be gone in a month or two.

[kennedy7955]

I hope he doesn''t stuff all the money up his nose or worse.

[crazycwp]

meanbiker where the heck does it say that!!! you''re just being an ignoramus

Awesome to read good human interest stories for a change.....

[meanbiker]

said attorney took 95% of the $100,000 for his legal fees..