Grandmother’s legacy

My grandmother recently passed away at age 101.

She has left all of her grandchildren stock.

From my uncle: “Mom set up a trust that took all of the DuPont stock Dad accumulated over the years and put it to work in the stock market. It grew, and threw off dividends that she used to buy other stocks and mutual funds. She always said that she hated laziness, and having money as cash, was just having lazy money. It should be invested to grow. So she invested it through the trust.

“This was Mom’s gift to her grandchildren, given in the hope and expectation that they will use the funds wisely, and not let the money be lazy.”

She had 16 grandchildren. “One provision in the trust was she left each of her grandchildren the equivalent of 100 shares of DuPont stock.”

They had to do a little detective work because DuPont doesn’t exist anymore so what happened to the stock. But they figured it out.

It’s not quite enough to open a Vanguard brokerage account and get low fees, but I have been thinking recently that I have too much savings in the bank.

For now, maybe I’ll just DRIP until I feel up to doing things.

Advertisements

11 Responses to “Grandmother’s legacy”

  1. nicoleandmaggie Says:

    Indivisible is pushing this organization this week: https://www.spreadthevote.org/
    Cloud has promoted this one: https://www.voteriders.org/
    Pick one and get involved or donate!

    Today I called my senators and rep again about Dreamers, CHIP, and how I don’t want Trump’s stupid wall.

  2. Leigh Says:

    I’m sorry for the loss of your grandmother. I miss mine every day. It was sweet of yours to leave her grandchildren some stock! Mine remarried in her 70s someone who stole much of her money once she was in a home and never visited her and had to be dragged to her funeral.

      • Leigh Says:

        Yes. I’m worried the same thing is going to happen to my grandmother-in-law. She doesn’t even know the guy’s last name! I told my grandmother’s story to my in-laws and then left my input at that. Her kids seem to think she isn’t legally married to the guy, but it’s still baffling. She stopped asking my husband where my ring was and when we were having kids once she met the guy. Sigh.

  3. chacha1 Says:

    Condolences. :-(

  4. Revanche @ A Gai Shan Life Says:

    I’m so sorry for your loss.

    You and Joe have me considering cutting the CD ladder short and going to a Vanguard bond brokerage, too.

  5. Leah Says:

    My condolences. I hope you are able to celebrate her life with family. She looks like fun!

  6. purple Says:

    You will always remember her… She sounds great.

  7. Debbie M Says:

    Ha ha, DRIPing: the lazy way to fight laziness in your money! I like it!

    My condolences on losing your grandmother.

  8. First Gen American Says:

    My last comment on this froze so never got posted.

    Your grandmother sounds like an amazing woman to have been able to support herself for over 100 years and still have money left over for the grandkids. I see where you get your money sense from.

    I am very sorry for your loss.

  9. Lisa Says:

    I’m sorry for your loss. My grandma left each of her 3 grandchildren $20k. I don’t know what my brother and my cousin did with theirs, but I wanted to use mine in a very deliberate way I used pieces of it to open a Roth, to pay a chunk of our new mortgage for our first house purchase. It was several years ago, but I’m very glad I made that decision. I felt (and feel) like I made good use of her generosity. Whatever you decide, I second your decision to think about it a bit.


Leave a Reply to Debbie M Cancel reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: